Over the last 24 hours, cryptocurrency traders collectively lost over $1 billion, with CoinGlass reporting $1.09 billion in liquidations and 181,077 traders wiped out. Long positions bore the brunt of the losses at $930.54 million, approximately 85% of the total, while shorts lost only $161.85 million. Bitcoin dropped from approximately $86,000 to near $82,000, but a minor short squeeze is now underway as the market bounces. If Bitcoin holds in the $80,000 to $82,000 zone, a recovery to $86,000 seems likely; a break lower could trigger a fresh wave of long liquidations.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
