Bitcoin's Sudden Dip Triggers Massive $420M Liquidation Of Long Positions

In a recent development, Bitcoin, the world’s premier cryptocurrency, witnessed a substantial drop, leading to the liquidation of over $420 million in long positions within a span of 24 hours, as reported by CryptoNews on Tuesday. Data from Coinglass reveals that 190,144 traders were liquidated, with total liquidations reaching $480.93 million. Out of this, $420 million were long positions. Major cryptocurrency exchanges such as Binance, OKX, and HTX witnessed approximately $372 million in long