Total crypto liquidations climb to $1.5 billion after $BTC dips below $95,000
Nearly 514,400 traders experienced liquidations totaling $1.51 billion, among them $1.38 billion were long positions with $136.7 million in short positions liquidated.
Bitcoin briefly dipped to $94,900 around 4:00 p.m. ET (21:00 UTC) before rising back to the $97,400 area.
Crypto liquidations broke past $1.5 billion within the past 24 hours as the price of bitcoin retreated from the $100,000 level.
Nearly 514,400 traders experienced liquidations, among them $1.38 billion were long positions with $136.7 million in short positions liquidated, according to data from the crypto data tracker Coinglass as of 4:43 p.m. ET (21:43 UTC).
Total liquidations for bitcoin and ethereum, respectively, reached $163.4 million and $204.7 million within the past day.
Monday's liquidations follow the $1.1 billion in total crypto liquidations on Dec. 5, which had been the largest amount of liquidations since December 2021, due to large holders experiencing "leverage flush."
Bitcoin surpassed $100,000 for the first time ever on Dec. 4 after a weeks-long rally following the election of Donald Trump as the 47th President of the United States and reached an all-time high of $103,679.