A cascade of liquidations sparked by the downturn in Bitcoin and other cryptocurrencies impacted more than 230,000 investors. Bitcoin alone contributed the largest share of the $222.1 million liquidations. Primarily, long positions accounted for about $181.8 million of these liquidations. Ethereum (ETH), the leading altcoin, similarly faced a substantial decline, witnessing liquidations totaling $163.4 million, predominantly from long positions amounting to $143.3 million. Ethereum’s price plummeted sharply by 10.57% to $2,890.
