CandleFocus Traders seen $553 million crypto liquidations as Bitcoin dropped $92k
2024-11-26
Author: Content Editor
Bitcoin experienced a significant drop in price, leading to a massive $553 million worth of liquidations in the crypto market. Traders holding long positions liquidated $413 million as Bitcoin dipped to $92k, causing a 5% decrease. Ethereum also contributed to the liquidations. The market capitalization dropped by 3% to $3.23 trillion, and the trading volume was around $240 billion. Altcoins were particularly affected, losing around $100 million. This correction is considered normal after Bitcoin's recent rally. The market is in a highly greedy position, but the macro-economic conditions in the US suggest a positive future for crypto.
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