Crypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000
Summary
Bitcoin's price has dropped by over 15% to $51,500, leading to over $1 billion in cryptocurrency derivatives liquidations in the past day. Altcoins like Ethereum, BNB, and Solana have seen even higher losses. Long investors have suffered the most, with around 85% of the liquidations involving long contracts. Despite the crash, $173 million in shorts were also liquidated. Bitcoin and Ethereum contributed significantly to the mass liquidation event, with $367 million and $350 million in liquidations, respectively.
