🚨 Crypto Market Sees Massive Long Liquidation Event 🚨
#Bitcoin dropped nearly 3% to around $78,000, wiping out gains from the previous week and pushing major altcoins lower. 📉
📊 Market Impact:
• Over $580M in crypto positions liquidated in 24 hours
• Around 95% of liquidations were leveraged longs
• Bitcoin and Ether traders saw the largest wipeouts
• #SOL and #XRP both fell around 5%
The move triggered a broad liquidation cascade across major cryptocurrencies as leveraged bullish positions were flushed from the market.
🌍 Macro Pressure:
• Hotter-than-expected inflation data
• Rising global bond yields
• Higher oil prices
• Worst U.S. stock market session since March
Shifting expectations around Federal Reserve policy also impacted sentiment, with traders reducing hopes for rate cuts and pricing in the possibility of further hikes.
#BTC #Ethereum #Crypto #CryptoNews #BinanceSquare
