Crypto Liquidations Reach $942.1 Million, Primarily Affecting Long Positions

Crypto traders experienced $942.1 million in leveraged position liquidations over the past 24 hours, with long positions accounting for $863.3 million, or 91.6% of the total. This occurred as the total crypto market capitalization dropped 4.96% to $2.76 trillion. Ethereum (ETH) saw the steepest decline among the five largest cryptocurrencies, falling 5.31% to $2,373.87, with $283.1 million in ETH positions liquidated, mostly from longs. Bitcoin (BTC) fell 2.54% to $81,328, with $196 million in liquidations, roughly $176 million from longs. Binance handled 53.7% of all liquidations, and $22.1 million in silver (XAG) and $13.3 million in gold (XAU) positions were also liquidated.