Long-term cryptocurrency traders are witnessing significant losses amounting to $190 million as the value of Bitcoin declines following the apparent repayments from Mt.Gox.

High funding rates, relatively low liquidity and reports of crypto exchange Mt.Gox starting repayments to victims of its 2014 hack spurred a market-wide decline in the past 24 hours, bringing losses to leveraged bullish traders.

In futures market, traders betting on higher prices lost over $190 million to liquidations as bitcoin (BTC) dropped as much as 4% before recovering in Wednesday morning hours. Some $45 million of those stemmed from altcoin-tracked futures in an unusual move – with bitcoin liquidations accounting for a relatively lesser $36 million in losses.

Traders of Solana’s SOL tokens took on nearly $20 million in losses, while those of Bitcoin protocol Ordinals (ORDI) lost $8 million, data from Coinglass shows. Crypto exchange Binance saw over $97 million in liquidations, the most among counterparties.