🚨 Crypto News: The crypto market just took a wild nosedive, racking up $1.52 billion in liquidations in 24 hours as $BTC suffered yet another flash crash. Long traders got the short end of the stick, losing a staggering $1.39 billion, while $137 million in shorts were liquidated. This is the second week in a row of gut-wrenching volatility, with altcoins feeling most of the pain.
$ETH led the pack of downtrending altcoins, losing $134.50 million in just four hours as prices dipped to $3,510 before climbing back to $3,700. Meanwhile, $DOGE stumbled to $0.38 before recovering slightly to $0.422. Top alt losers $SOL and $XRP weren't spared either, with liquidations of $33.61 million and $33.78 million, respectively. Even $ADA felt the heat, struggling just to stay near the $1 mark.
A toxic cocktail of over-leveraged positions, weakened sentiment, and cascading stop losses supercharged this sell-off. Binance led the liquidation leaderboard with $417.65 million wiped out, followed by OKX and Bybit. The biggest single event? A $19.69 million liquidation on Binance’s ETHUSDT pair.
While traders lick their wounds, the crypto Fear and Greed Index ironically remains in Extreme Greed at 78. The market’s telling us: volatility is the name of the game. Buckle up.
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