More than 290,000 traders were affected as Bitcoin fell to $62,638, Ether slid to $1,757 and Solana dropped to $68 in the market selloff.
Crypto traders absorbed more than $1.70 billion in liquidations over the past 24 hours, affecting over 290,000 accounts as major tokens fell sharply. Bitcoin dropped 6.63% to $62,638, Ether declined 6.71% to $1,757, and Solana fell 9.25% to $68. Liquidations happen when leveraged positions are forcibly closed after traders can no longer meet margin requirements, often accelerating volatility during rapid market moves.