Over $2.4 billion in crypto positions were liquidated this week as Bitcoin fell from $85.7K to $82.5K. Between 85% and 93% of liquidated positions were longs, affecting 100,000 to 180,000 traders per 24-hour session. Total crypto market capitalization dropped by approximately $110 billion in 36 hours. The macro environment also deteriorated with US Treasury yields above 5.3% and oil above $101 per barrel, while spot Bitcoin ETF flows turned negative.
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