$1.5 billion in bullish bets liquidated as cryptocurrencies plunge in the afternoon

ChainCatcher news, according to Golden Ten Data, on Monday, more than $1.5 billions in bullish bets by cryptocurrency traders were forcibly liquidated, triggering a sharp decline, with smaller tokens being hit the hardest. Data from Coinglass shows that due to the liquidation of nearly $500 millions in leveraged long positions, Ethereum once fell 9% to $4,075, while Bitcoin dropped nearly 3% to $111,998. Within 24 hours, more than 407,000 traders were forcibly liquidated. This sell-off temporarily dragged the total market capitalization of digital assets below $4 trillions, before a slight rebound occurred.