Crypto Market Bloodbath: $10.62 Billion in Liquidations, 410,000 Traders Wiped Out

In the past 24 hours, the cryptocurrency market has witnessed a significant downturn, with a total of $10.62 billion in liquidations across various networks. This wave of liquidations has affected over 410,000 individuals, highlighting the volatile nature of the crypto market.

According to data from Coinglass, the total value of positions liquidated in the past 24 hours was $1.062 billion, with $0.922 billion in long liquidations and $0.14 billion in short liquidations. This indicates a substantial loss for both long and short positions. Additionally, a total of 416,869 people were liquidated globally, with the largest single liquidation occurring on Binance - ETHUSDT worth $19.048 million.

Market analysts have attributed the recent decline in the crypto market to various factors, including regulatory uncertainty, geopolitical tensions, and a general risk-off sentiment among investors. The plummeting price of ETH, which dropped to $2750, has also contributed to the overall market downturn.

The crypto market's volatility has once again underscored the importance of thorough research and cautious investment strategies. As the market continues to evolve, investors must stay informed and adaptable to navigate the ever-changing landscape.