Over $407,000,000 in Crypto Liquidated in Just 24 Hours As Bitcoin (BTC) Plunges to Four-Month Low

Over $407,000,000 in Crypto Liquidated in Just 24 Hours As Bitcoin (BTC) Plunges to Four-Month Low


Tens of thousands of crypto traders are having their positions liquidated as markets across numerous sectors close out the week in the red.

Data from the cryptocurrency futures trading and information platform Coinglass reveals that on May 5th, more than $407.60 million worth of trader positions in digital assets were wiped out in a 24-hour span.

Among these losses, over $340.30 million worth of long positions were wiped out. Those who betted on the sustained drop of the crypto markets were also not spared by the volatility as $67.3 million worth of short positions were liquidated on the same day.

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Source: Coinglass

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