$100 million worth of leveraged positions in Bitcoin were liquidated over the past 24 hours, raising concerns about a potential correction to the $50,000 mark.
Bitcoin (BTC) liquidations totaled $100.4 million, with over $86 million of cumulative leveraged long positions being liquidated, according to CoinGlass data.
The liquidation heatmap showed BTC at $100.04M, ETH at $77.38M, and others totaling $48.25M. Solana (SOL) contributed $13.29M to the overall liquidations.
The liquidations were triggered by three consecutive days of negative price action, dropping Bitcoin's price from over $62,000 on July 2 to a low of $57,043 at 9:22 am UT on July 4, according to CoinMarketCap data.
