๐ฐ๐ Crypto Carnage: $250 Billion Wiped Out in Market Mayhem! ๐๐ฐ
The crypto market's rollercoaster ride took a harrowing turn as a whopping $250 billion vanished into thin air on May Day! ๐ฑ
๐ Long position investors bore the brunt of the blow, losing a staggering $400 million in leveraged transactions within just 24 hours. Ouch!
๐ Over 137,000 crypto investors felt the sting, with $464.54 million going up in smoke, primarily from bullish trades gone sour. Short sales added insult to injury, contributing $64.67 million to the total losses.
๐ Bitcoin (BTC) and Ethereum (ETH) led the pack in pain, with liquidations totaling $165.77 million and $120.76 million, respectively. These two giants alone accounted for a whopping 61% of long position losses.
๐ The crypto market's total capital plummeted from $2.29 trillion to $2.04 trillion, marking a staggering 10.87% decline in just one day. Talk about a seismic shift!
๐ Bitcoin's daily losses surpassed 7.5%, leaving investors biting their nails as the price dipped below $60,000. Analysts are eyeing potential drops to $54,000 and $50,000, raising concerns among jittery traders.
Hold onto your hats as the crypto world weathers this storm of uncertainty! ๐ช๏ธ๐ผ
