A sharp drop in the cryptocurrency market triggered $1.8 billion of forced liquidations in leveraged positions over 24 hours.
The Kobeissi Letter said on June 4 that the crypto market recorded $1.8 billion in leveraged liquidations that day.
It was the largest daily liquidation total since January. Bitcoin briefly fell below $62,000 during the session, while Ether and other major altcoins also slumped, setting off a chain of liquidations led by long positions.
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