Bitcoin Flash Crash Leads to $1.52B Liquidations

The cryptocurrency market witnessed a significant cascade of liquidations totaling $1.52 billion in the last 24 hours due to another flash crash in Bitcoin. Coinglass data revealed that the majority of liquidations were from long positions, amounting to $1.39 billion, while short liquidations accounted for $137 million. Altcoins suffered the most during this period of intense market volatility, with over $759 million liquidated in just one hour. Ethereum and Dogecoin were among the hardest hit, with substantial losses recorded. The sell-off was driven by over-leveraged positions, weak sentiment, and cascading stop-loss orders. Despite the massive liquidations, the crypto Fear and Greed Index remains in Extreme Greed territory. Bitcoin remains the top cryptocurrency by market cap, with a market capitalization of $1.91 trillion and a 24-hour trading volume of $103.65 billion. The total crypto market is valued at $3.44 trillion with Bitcoin dominance at 55.69%. Read more AI-generated news on: https://app.chaingpt.org/news