Crypto liquidation is growing, with long traders most impacted
As expected, Bitcoin led the liquidations with a total of $40.63 million in liquidations recorded overnight. Long traders accounted for $37.95 million of this bogus sum, and short traders about $2.69 million. Ethereum ranked as the second most liquidated digital currency with a total of $12.14 million.
The liquidation figure is justified, seeing the price of both Bitcoin and Ethereum plummeting by a mile over the past 24 hours. While BTC is trading at a price of $29,185.25, down by 1.91% to breach the core support level at $30,000, Ethereum has shed as much as 0.84% to $1,854.29 within the same time span.
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