$533 Million Crypto Longs Flushed As Bitcoin Plummets To $62,600
Summary
Bitcoin's price has dropped by over 15% since reaching an all-time high, leading to $533 million in long contracts being liquidated. The cryptocurrency market has seen significant losses, with over $657 million in derivative contracts being flushed out in the past day. Bitcoin and Ethereum have suffered the most, with $191 million and $134 million in liquidations, respectively. Despite the high liquidations, Bitcoin's Open Interest remains at extreme levels, indicating continued volatility in the market.
