Cryptocurrency market sees $340M wiped out in four-hour plunge

Cryptocurrency market sees $340M wiped out in four-hour plunge

Traders face steep losses as sudden volatility highlights the risks of leveraged positions in the digital asset space.

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by Vivian Nguyen | Powered by Gloria

Around $340 million in leverage positions were liquidated in the last four hours as Bitcoin, Ethereum, and other crypto assets slid, according to CoinGlass data.

Bitcoin fell to $93,000 after briefly surging above $95,000 on Monday morning. The largest cryptocurrency was trading around $93,700 at press time, extending its weekly losses to more than 10%.

Ethereum retreated to $3,100, while XRP, Solana, BNB, TRON and other top cryptocurrencies also slid in the downturn.

The sharp swings across major cryptocurrencies underscored mounting market volatility, with rapid price drops triggering a wave of forced closures on derivatives platforms.

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Cryptocurrency market sees $340M wiped out in four-hour plunge

Cryptocurrency market sees $340M wiped out in four-hour plunge

Traders face steep losses as sudden volatility highlights the risks of leveraged positions in the digital asset space.

by Vivian Nguyen | Powered by Gloria

Share

Add us on Google

Around $340 million in leverage positions were liquidated in the last four hours as Bitcoin, Ethereum, and other crypto assets slid, according to CoinGlass data.

Bitcoin fell to $93,000 after briefly surging above $95,000 on Monday morning. The largest cryptocurrency was trading around $93,700 at press time, extending its weekly losses to more than 10%.

Ethereum retreated to $3,100, while XRP, Solana, BNB, TRON and other top cryptocurrencies also slid in the downturn.

The sharp swings across major cryptocurrencies underscored mounting market volatility, with rapid price drops triggering a wave of forced closures on derivatives platforms.