Crypto Market Sees $1.8 Billion of Forced Liquidations, Biggest Daily Total This Year
Suehyeon Lee
Summary
- The cryptocurrency market saw $1.8 billion of forced liquidations in leveraged positions over a 24-hour period.
- The liquidation total was the largest daily liquidation since January.
- A break below $62,000 in Bitcoin and sharp losses in Ether and other major altcoins triggered a chain of liquidations centered on long positions.
Forecast Trend Report by Period
A sharp drop in the cryptocurrency market triggered $1.8 billion of forced liquidations in leveraged positions over 24 hours.
The Kobeissi Letter said on June 4 that the crypto market recorded $1.8 billion in leveraged liquidations that day.
It was the largest daily liquidation total since January. Bitcoin briefly fell below $62,000 during the session, while Ether and other major altcoins also slumped, setting off a chain of liquidations led by long positions.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
