Cryptocurrency liquidation activity has exceeded $1.5 billion in the past 24 hours as the price of Bitcoin dropped to $95,000.
According to data from the cryptocurrency data tracking tool Coinglass at the time of writing, nearly 514,400 traders have been liquidated, including $1.38 billion in long positions and $136.7 million in liquidated short positions.
The total liquidation amount for Bitcoin and Ethereum reached $163.4 million and $204.7 million respectively in the past day.
According to Coinmarketcap data, Bitcoin dropped to $94,900 around 4:00 AM on December 10, 2024, before rising to $97,835 at the time of writing.
The liquidation event early this morning followed a $1.1 billion cryptocurrency liquidation on December 5th, the largest liquidation since December 2021, as major holders experienced a surge in 'leverage'.
Bitcoin surpassed the $100,000 mark for the first time on December 4th, reaching an all-time high of $103,679.
