Bitcoin Plunge Under $68,000 Squeezes $668 Million Crypto Longs
Summary
Bitcoin's price dropped by 7% in 24 hours, causing over $668 million in cryptocurrency long contracts to be squeezed. The cryptocurrency derivative market saw $813 million in liquidations, with long contracts contributing 81% of the total. This led to a "long squeeze," with Bitcoin and Ethereum being the top contributors, and Solana (SOL) experiencing strong positive returns amidst the market turmoil.
