Crypto Market Suffers Major Liquidations as Bitcoin Price Soars

The cryptocurrency market experienced a significant downturn yesterday, resulting in over $314 million in liquidations across 108,138 traders. The majority of these losses ($220 million) originated from long positions, accounting for 71% of total liquidated funds. This sell-off was driven largely by Bitcoin’s price surge, exceeding the $82,245 mark and triggering substantial liquidations on those who held short positions.