Crypto Traders Liquidated to Tune of Nearly $450,000,000 in Less Than 24 Hours As Macro Climate Shifts

Crypto Traders Liquidated to Tune of Nearly $450,000,000 in Less Than 24 Hours As Macro Climate Shifts


Crypto traders are getting hammered with liquidations, with Ethereum (ETH) bulls seeing the worst of it.

According to data from Coinglass, traders have been hit for $448 million in the last 24 hours, with ETH suffering nearly $158 million in liquidations alone.

Bitcoin (BTC), the largest crypto by market cap, has caused nearly $129 million in liquidations during that same period. Ethereum Classic (ETC) has triggered almost $20 million, XRP nearly $10 million and Solana (SOL) has seen nearly $5.5 million during that time.

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All the while, the US Dollar Index (DXY), a market gauge indicating the strength of the US dollar versus a basket of other fiat currencies, is approaching a 20-year high. Traditionally speaking, a strong DXY signals weakness in risk-on assets such as cryptocurrency.

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