Crypto Bulls See $644M Bloodbath As Bitcoin Dips Below $105,000
Summary
Over the past day, cryptocurrency liquidations have exceeded $712 million, primarily affecting long investors. Approximately $477 million of these liquidations occurred in the last twelve hours. Bitcoin and altcoins experienced significant declines, leading to over 90% of the liquidations being from bullish positions, termed a long squeeze. Bitcoin saw $221 million in liquidations, while Ethereum accounted for $116 million. Solana, despite its lower market cap, had $32 million in liquidations due to a larger price drop. Bitcoin's decline began earlier, peaking at $112,000 on May 22, coinciding with increased whale activity. The current Bitcoin price is around $105,800 after dipping below $105,000 earlier.
