Crypto liquidations hit $1.8B in a day: Final flush or more to come?

Over 370,000 crypto traders saw $1.8 billion in leveraged positions flushed during the year’s largest long liquidation event. Analysts stress that the fundamentals are intact.

Overleveraged crypto traders were liquidated out of nearly $2 billion in one of the year’s largest market flush-outs on Monday, in what some analysts blame on technical factors rather than weakening market fundamentals. 

More than 370,000 traders have been liquidated to the tune of $1.8 billion over the past 24 hours, according to data from CoinGlass.

The majority of those positions had bet on Ether and Bitcoin, while altcoins also got hammered across the board. 

Read more