Crypto Market Sees 10th Largest Single-Day Liquidation

The cryptocurrency market has experienced its 10th largest single-day liquidation event in history, marking a significant downturn. This event saw over $1.2 billion in leveraged positions liquidated across major exchanges, impacting both long and short positions. The sudden market volatility has been attributed to a combination of macroeconomic factors and regulatory uncertainties, leading to a sharp decline in cryptocurrency prices.

Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, were among the hardest hit, with Bitcoin dropping 7% to $32,500 and Ethereum falling 8% to $2,100. The liquidation event underscores the ongoing volatility and risk associated with leveraged trading in the crypto market, prompting calls for more cautious trading strategies among investors.