Crypto markets experienced a wave of forced liquidations totaling $1.2 billion over the past 24 hours, primarily dominated by selloffs in leveraged positions of Bitcoin and Ethereum. Altcoins like Solana and Sui faced sharp short-term shocks. Meanwhile, BitMine plans to sell 3 million shares of Series A perpetual preferred stock with a 9.5% annual payout to raise up to $300 million to fund its Ethereum strategy, as the company's paper losses reportedly exceeded $8.5 billion.
Crypto markets saw $4.73 billion in leveraged positions liquidated within 24 hours as rapid price swings triggered a massive wave of forced deleveraging.
Read the full storyCryptoQuant data reveals the year's worst capitulation for new investors, with over 53,800 BTC moved to exchanges at a loss following a sharp market slump.
Crypto markets hit $1.2 billion in forced liquidations over 24 hours as leveraged positions in Bitcoin and Ethereum faced a massive long squeeze.