$1.7 Billion Liquidated in Biggest Crash Since 2021
๐Bloodbath๐
The crypto market experienced a brutal crash on December 9th, wiping out billions of dollars in investor positions.
๐Bitcoin Plunges๐
Bitcoin, the world's largest cryptocurrency, plummeted by 7%, falling from $101,109 to a low of $94,150.
๐Altcoins Annihilated๐
The pain was far worse for altcoins. Ethereum plunged 12%, XRP cratered 22%, and Solana, Cardano, and Dogecoin suffered double-digit losses.
๐Liquidation Frenzy๐
Over 562,000 traders were liquidated, with total liquidations surpassing $1.7 billion โ the largest single-day liquidation event since April 2021.
๐Coinbase Chaos๐
The crash appears to have originated from aggressive selling pressure on Coinbase, triggering a chain reaction of liquidations across the market.
๐Overheated Market๐
Experts point to excessive leverage and sky-high funding rates as key factors that fueled the market's vulnerability.
๐XRP Mystery๐
A sudden, massive sell-off of XRP on Coinbase remains a perplexing mystery, baffling analysts.
๐Recovery Attempt๐
While prices have rebounded slightly, the market remains volatile and uncertain.
๐Analyst Views๐
Some analysts believe this crash is a necessary correction in an overheated market, while others caution that more volatility lies ahead.
