Bloodbath for crypto longs as Bitcoin tumbles below $116K
The sudden crypto market downturn saw 213,729 traders get liquidated for a total of nearly $600 million over the past 24 hours.
More than half a billion in long positions were liquidated across the crypto market on Friday as the price of Bitcoin slipped below $116,000 amid a broader market tumble.
According to CoinGlass data, $585.86 million in long positions were liquidated, with Bitcoin (BTC) accounting for $140.06 million of that total as it dropped 2.63% to $115,356.
Ether (ETH) followed with $104.76 million in long liquidations, falling 1.33% to $3,598 over the same period.
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