Bitcoin Sell-Off Sparks $1.71B Wave of Crypto Liquidations

Data from Coinglass indicates that $1.71 billion in crypto positions were liquidated over the past 24 hours, with long positions making up roughly 85% of the total.

These liquidations came as the broader cryptocurrency market moved lower, with selling pressure spreading across major digital assets. During the downturn, Bitcoin fell below the $63,000, registering a 6.6% decline over the past day.

At the same time, Ethereum also declined, sliding 7% to $1,754 as weakness continued across the market.

Source: Coinglass