UPDATE: Crypto liquidations hit $1.09B amid tech drop and whale loss
CIE News ·
Update to UPDATE: Crypto liquidations cross $1.05B as over 203,000 traders face losses
Based on reporting by The Block; not yet independently confirmed.
Cryptocurrency liquidations reached $1.09 billion following a tech stock drop, pushing Bitcoin below $76,000 as one trader lost 201 BTC across eight liquidations.
Crypto liquidations expanded to $1.09 billion as markets fell in tandem with a decline in U.S. equities, following earlier reports that over $1.05 billion had been liquidated in derivatives markets. The downturn came as the Nasdaq dropped over 5%, pushing Bitcoin (BTC) down to between $75,463 and $75,700.
Ethereum (ETH) fell more than 7% to around $2,233 to $2,250, while Solana (SOL) declined 6.2% to $89.55. According to Lookonchain, a single trader absorbed eight successive liquidations totaling 201 BTC, valued at roughly $15.6 million.
Data reported by crypto.news shows that long positions accounted for roughly 88% to 90% of total liquidations, impacting more than 211,000 traders. The largest individual liquidation was a $10.94 million ETH position closed on Binance.
Key facts
- $1.09B liquidated
- 201 BTC whale liquidation
- Nasdaq dropped over 5%
- BTC fell below $76,000
Read the original at cryptorank.io