Crypto Market Faces Massive $2.2 Billion Liquidation – Worse than FTX and LUNA
The crypto market has experienced a massive liquidation event, resulting in over $2.2 billion being wiped out. Traders who anticipated price increases found themselves facing severe losses as Bitcoin plunged to $91K, alongside a 20% crash in Ethereum within just 24 hours.
This liquidation surpasses prior events in the crypto sphere, including notable collapses like FTX and LUNA. Traders are now calling for caution as the market digests these recent developments and reassesses risk appetites.
As the market grapples with volatility, investors should exercise vigilance while considering their next moves. Keeping an eye on market trends will be crucial for navigating this uncertain environment.