Crypto market’s nearly 6% slide costs bulls $1 billion in a single day
AI summary
Crypto traders lost $1.23 billion to forced liquidations in the past 24 hours, nearly double the prior day's total, with long positions accounting for $1.02 billion of it. The market cap fell 5.75% to $2.33 trillion as long bets made up 82.7% of liquidations, per Coinglass data. Bitcoin slipped below a key level, and the scale of long-side pain signals a sharp deleveraging that traders should watch for further downside or a capitulation bounce.
