$96 Million in Crypto Long Positions Liquidated as BTC and ETH Drop

Bitcoin fell below $120,000 and Ethereum below $4,300 amid rapid market declines causing significant liquidations within one hour.

BTC
ETH

Summary

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Terms & Concepts
  • Long Position: A trading strategy where an investor buys an asset expecting its price to rise, profiting from the appreciation.
  • Liquidation: The forced closing of a trader's position due to insufficient margin to cover potential losses.
  • BTC: Ticker symbol for Bitcoin, the first and largest cryptocurrency by market capitalization.