$1.7 Billion Liquidated in Biggest Crash Since 2021
🔆Bloodbath🔆
The crypto market experienced a brutal crash on December 9th, wiping out billions of dollars in investor positions.
🔆Bitcoin Plunges🔆
Bitcoin, the world's largest cryptocurrency, plummeted by 7%, falling from $101,109 to a low of $94,150.
🔆Altcoins Annihilated🔆
The pain was far worse for altcoins. Ethereum plunged 12%, XRP cratered 22%, and Solana, Cardano, and Dogecoin suffered double-digit losses.
🔆Liquidation Frenzy🔆
Over 562,000 traders were liquidated, with total liquidations surpassing $1.7 billion – the largest single-day liquidation event since April 2021.
🔆Coinbase Chaos🔆
The crash appears to have originated from aggressive selling pressure on Coinbase, triggering a chain reaction of liquidations across the market.
🔆Overheated Market🔆
Experts point to excessive leverage and sky-high funding rates as key factors that fueled the market's vulnerability.
🔆XRP Mystery🔆
A sudden, massive sell-off of XRP on Coinbase remains a perplexing mystery, baffling analysts.
🔆Recovery Attempt🔆
While prices have rebounded slightly, the market remains volatile and uncertain.
🔆Analyst Views🔆
Some analysts believe this crash is a necessary correction in an overheated market, while others caution that more volatility lies ahead.
