Over $1,000,000,000 in Crypto Liquidated in Just 24 Hours As Bitcoin (BTC) Nosedives to 10-Month Low

Over $1,000,000,000 in Crypto Liquidated in Just 24 Hours As Bitcoin (BTC) Nosedives to 10-Month Low

Hundreds of thousands of crypto traders are getting their positions liquidated as Bitcoin (BTC) and the rest of the digital asset market witness a massive sell-off event.

Data from cryptocurrency futures trading and information site Coinglass reveals that $1.01 billion worth of trader positions in crypto assets were wiped out in the last 24 hours.

Traders who were expecting a bounce took the brunt of the correction as nearly $750 million worth of long positions were liquidated in the past day. The volatility also exacted a toll on those betting that crypto will go down in a straight line as close to $200 million worth of short positions were wiped over the same time period.

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