Crypto long liquidations hit $1.26B as Bitcoin price retreats
Key Facts
Long position liquidations accounted for $1.26 billion of the total $1.4 billion in cryptocurrency market liquidations over a 24-hour period. This surge in forced selling occurred as Bitcoin dropped to the $67,500 level, marking a continuation of the downward trend.
The market-wide decline saw Ethereum trade near $1,900 while XRP approached the $1.00 mark. Moneycontrol.com reported that these liquidations coincide with total outflows from US spot Bitcoin ETFs exceeding $2.5 billion for November, driven by concerns over tighter Federal Reserve monetary policy.
Latest Updates · 1
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Update: Bitcoin has recorded cumulative losses of approximately 20% over the past six weeks. This decline comes as technical indicators approach a bearish "death cross" pattern, further intensifying the selling pressure on the cryptocurrency.