Crypto Bloodbath: $1.76 Billion Liquidations Spark Bitcoin and Altcoin Crash

• Over $1.76 billion was liquidated from the digital asset space in the past day.
• If BTC breaks above $104K and makes a new ATH, a massive $3.75 billion will be wiped off in BTC shorts.
• If Bitcoin loses $90,000, investors might see $1.64 billion in longs being liquidated.

The crypto market experienced a brutal bloodbath, with leading altcoins suffering significant losses. Bitcoin (BTC), the market’s top digital asset, failed to hold the $100,000 price level and subsequently plummeted below $97,000. This sparked a massive wave of liquidations, totaling $1.76 billion across the crypto market.

Data from Coinglass reveals that nearly $1.36 billion was liquidated in just 12 hours. Long positions accounted for $1.25 billion of this figure, while short positions contributed $115 million. Over the past 24 hours, total liquidations reached a staggering $1.58 billion in longs and $182 million in shorts.

Bitcoin Liquidations and Price Volatility

The Bitcoin liquidation map suggests that if Bitcoin recovers and climbs back above $99,000, over $1.28 billion in BTC shorts could be liquidated. A break above $100,000 could trigger an even more substantial liquidation of …

The post Crypto Bloodbath: $1.76 Billion Liquidations Spark Bitcoin and Altcoin Crash appeared first on Coin Edition.