It seems that the bulls might have celebrated too early, because the cryptocurrency market took a flip for the more serious. After having surged to $30K earlier right this moment, the value took a sudden u-turn and plummeted to $27K in lower than an hour.
- This left near $200 million in liquidated leveraged positions previously hour alone.
- Upwards of 90% of the liquidations previously hour had been longs, accounting for greater than $157 million. Binance and OKX account for almost all of the quantity.
- In truth, 97% of the liquidations on Binance had been leveraged lengthy positions.
- On the time of this writing, BTC is buying and selling at round $27,500, however the volatility is at extremes.
- The remainder of the market additionally took a beating, with ETH right down to $1800.