Crypto Liquidations Near $1 Billion As Bitcoin & Altcoins Bounce Back
Summary
The cryptocurrency market experienced significant liquidations totaling $971 million in the past day, driven by a recovery in Bitcoin and altcoins following Donald Trump's announcement of a Crypto Strategic Reserve. Bitcoin's price surged to nearly $95,000 before retracting to $92,800, while Ethereum rose to $2,550 and then fell to $2,360. Bitcoin and Ethereum saw increases of 8% and 6%, respectively, while XRP, Solana, and Cardano rallied by 17%, 13%, and 48%. Liquidations predominantly affected short investors, with $558 million liquidated from shorts and $412 million from longs. Bitcoin and Ethereum accounted for the largest individual liquidations at $353 million and $182 million, respectively.
