The recent volatility in the cryptocurrency market has led to nearly $700 million in liquidations on crypto-tracked futures. This has affected both longs and shorts, with $380 million in bearish traders and $290 million in bullish bets evaporated.
These cumulative losses mark the highest liquidation amount since early April, when Bitcoin briefly crossed its previous peak at over $73,000. The market fluctuations have caught many traders off guard, causing significant financial losses.
It’s essential for crypto traders to stay informed and be prepared for sudden price swings in the market. Risk management strategies are crucial to mitigate potential losses and navigate the volatility of the crypto space.
