Crypto Liquidations Top $680 Million as Bitcoin Reverses Gains

BTC, ETH and SOL liquidated after reverse gains Data from CoinGlass reveals that major cryptocurrencies, including Bitcoin, Ethereum and Solana, have witnessed substantial liquidations as the recent uptick in Bitcoin's price abruptly turned bearish. Related Satoshi-Era Bitcoin Whales Are Waking Up, Selling Their Holdings Bitcoin (BTC) recorded liquidations totaling $246.66 million, with $195.61 million from long positions and $47.05 million from short positions. The last time liquidation occurred as a result of a price drop, some analysts, including critic Peter Schiff, were optimistic about a rally. Ethereum (ETH) saw liquidations amounting to $116.07 million, comprising $94.86 million from long positions and $21.21 million from short positions. A substantial acquisition of 25,674 ETH was recently executed by an Ethereum whale, with a risk of repercussions predicted should the price of ETH dip below a certain threshold, potentially leading to a liquidation event. This, according to analysts, seems to be playing out. Outlier mode activated by Solana Solana (SOL) experienced liquidations totaling $38.28 million, with $19.88 million from long positions and $18.39 million from short positions. However, Solana (SOL) stands out as the sole major cryptocurrency among the top 10 by

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