Over the last 24 hours, thousands of crypto traders have lost their positions in the market. The liquidations had ramped up, especially after the price of bitcoin had lost its footing above $19,000. It triggered one of the largest liquidations for the year 2022, with traders losing hundreds of millions of dollars in the span of a single day. More Than 125,000 Trader Rekt In the 24 hours following bitcoin’s decline to the $18,000 territory, more than 125,000 have had their positions liquidated. This amounted to more than $410 million that has been lost in the past day. Not surprisingly, the vast majority have been long traders who had been betting on the market seeing another recovery. Instead, the drop had caused a ripple effect across the market. Related Reading: Bitcoin Open Interest, Funding Rates Point To Growing Bullish Sentiment According to data from Coinglass, a total of 126,632 traders had lost their positions during this time. The largest single liquidation had been recorded on the Bitmex exchange, where a single trade worth $10 million had been liquidated across the XBTUSD pair. Of the $417 million in liquidations, 87.85% had come out as longs, leaving $52.38 million of shorts during this time. Over the last 12 hours, the liquidations have started to subside but still remain significant enough to cause panic in the market. Ethereum Leads Crypto Liquidations Even though bitcoin had fallen below $19,000, sparking mass...
