CandleFocus Bullish Crypto Bets Lose $1.2B as Bitcoin Fumbles to Under $89K, XRP Down 14%
2025-02-25
Author: Content Editor
Crypto bulls suffered significant losses of at least $1.2 billion in the past 24 hours, with the market decline on Monday worsening during Asian trading hours on Tuesday. Bitcoin dropped to its lowest level since mid-November, trading below $89,000. Crypto exchanges reported an average of one liquidation per second, indicating that the overall losses are likely much higher than the recorded $1.35 billion. The liquidations affected not only bitcoin but also other cryptocurrencies such as ether, Solana, XRP, and dogecoin. Bybit, which recently recovered from a $1.4 billion hack, led the liquidation figures with over $600 million lost, followed by Binance and OKX. The continued decline in technology stocks and the strength of the Japanese yen, seen as a safe haven, contributed to the risk aversion sentiment impacting the crypto market.
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