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Cryptocurrencies Sink as $1.5 Billion in Bullish Bets Wiped Out
['Mon', 'Sep', 'Min Read']
Yahoo Finance
Cryptocurrency traders saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp selloff that sent Ether and other tokens plunging.
Most Read from BloombergIt was the biggest wave of liquidations across cryptocurrencies since at least March 27, the Coinglass data show.
There was no clear trigger for the crypto selloff, but market commentators said it was notable in breadth and depth.
On Monday, more than 407,000 traders saw their positions liquidated over a 24-hour period, the Coinglass data show.
The resulting selloff dragged the overall digital-asset market size below $4 trillion, according to data from CoinGecko.
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