🚨 A Wave of Large-Scale Liquidations is Sweeping Through the Crypto Market

The crypto market was recently hit hard by a wave of $96 million liquidations, triggered by Bitcoin's price drop to $65,000. This sharp decline resulted in the liquidation of leveraged positions for tens of thousands of traders on centralized exchanges.

Key Details:

1- Bitcoin's Struggle: BTC fell by 2.5% last week, dropping from $69,547 to $66,018, and further to $65,890 on June 17, causing massive liquidations.- Liquidation Impact: Long traders lost $62.14 million, while short traders saw $32.91 million in losses.

2- Ethereum Hit Hard: Ethereum faced the brunt with $21.36 million liquidated, followed by Bitcoin with $10.54 million.

Exchange-Specific Losses:

1- Binance: Largest liquidation order at $4.21 million, with total losses of $48.21 million.

2- Other Exchanges: OKX ($29.63 million), Bybit ($8.17 million), and Huobi Global ($5.83 million).

Since the beginning of June, centralized exchanges have seen significant liquidations, with cumulative losses reaching $400 million as of June 7 and $190.97 million last week.

This wave of liquidations highlights the persistent volatility of the crypto market and the risks associated with leveraged positions. Traders must stay cautious and adapt their strategies to navigate these turbulent waters. DYOR

Stay informed to make better investment decisions! 🚀

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