The cryptocurrency market experienced a severe wave of volatility over the last 24 hours, resulting in more than $250 million in total liquidations across various digital assets. Bitcoin (BTC) led the market downturn, caught in a price correction that wiped out millions in leveraged positions. Data from market monitoring tools indicates that the majority of these liquidations—approximately 80%—were long positions, as traders betting on further price increases were caught off guard by a sudden sharp decline. Major exchanges, including Binance and OKX, saw the highest volume of forced closures as BTC dipped below key psychological support levels. Analysts attribute this sudden shakeout to a combination of macroeconomic uncertainty and a necessary cooling-off period following weeks of sustained bullish momentum. While the flush of leverage has cleared some froth from the market, investors remain cautious as Bitcoin struggles to reclaim its previous highs amidst shifting sentiment.
Source: Bitcoin price punishes traders as 24-hour crypto liquidations pass $250M
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