Crypto Market Sees $131 Million in Liquidations: Implications for Traders and Market Sentiment

A significant event has shaken the cryptocurrency market as $131 million was liquidated in just 24 hours. This massive outflow impacted both Bitcoin and Ethereum, primarily affecting leveraged traders who were caught holding risky positions. The largest single instance occurred on Binance’s BTCUSDT pair, totaling $1.976 million. 68,597 traders experienced liquidations globally during this period, highlighting the volatile nature of crypto markets at the moment. 📈