Crypto Liquidations Spike Above $800 Million as Bitcoin, Dogecoin and Ethereum Fall
Summary
Liquidations on crypto positions surged above $800 million in the past 24 hours as prices declined, with $827 million in bets liquidated, mostly long positions at $747 million. Bitcoin led with $222 million in liquidations, followed by Ethereum at $122 million. The broader crypto market fell by 4.3%, with Dogecoin dropping 9% to below $0.20, its lowest since May 8. Solana decreased by nearly 5% to $160, XRP fell 3.3% to $2.20, and Ethereum dropped 3% to $2,573. Bitcoin dipped 1.3% to $104,730, nearing $104,000 earlier. Analysts expect short-term weakness for Bitcoin before a potential rise.
