Rising volatility leads to major losses as traders face forced liquidations across major digital asset platforms.
Crypto markets saw around $526 million in liquidations in the past 24 hours, affecting over 154,000 traders.
Long positions accounted for $372 million of the total, while short positions made up $154 million. The largest single liquidation order occurred on Hyperliquid’s HYPE-USD pair, valued at $11 million.
The wave of liquidations reflected growing volatility across major crypto assets, especially Bitcoin. The digital asset experienced a short-lived rally to $90,000 today before declining to around $85,000.
Investors are reacting to concerns over US unemployment and prospective rate hikes from the Bank of Japan, creating a challenging backdrop for further market advances.
