The cryptocurrency market experienced a significant downturn on December 30, with the entire network liquidating $241 million in the past 24 hours. According to Coinglass data, this liquidation was primarily driven by long orders, which accounted for $194 million, while short orders liquidated $46.69 million.
Market Liquidation Breakdown
– Long Orders: $194 million in liquidation, highlighting a significant shift in market sentiment as investors cut their long positions. – Short Orders: $46.69 million in liquidation, indicating that some investors were forced to close their short positions as the market dropped.
Market Reaction
The widespread liquidation is a clear indication of the market’s volatility and sensitivity to price movements. As investors continue to navigate the cryptocurrency market, it remains to be seen how this liquidation will impact future market trends.
Source: M.theblockbeats.info
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