Crypto Liquidations Hit $1.13B, 302,612 Traders Affected as Bitcoin Drops 10%

In a significant market event, the cryptocurrency market has experienced over $1.1 billion in liquidations in the past 24 hours, with total liquidations reaching $1.13 billion. This surge in liquidations affected 302,612 traders, significantly higher than the 165,741 traders reported earlier. Bitcoin's value notably declined 10% from $69,000 to $62,000. The liquidations, which surpassed $800M at one point, were spread across various platforms, with long positions being hit the hardest, totaling $445.72 million of the losses. This event marks a tumultuous period for the crypto market, reflecting the volatile nature of digital currencies.