The crypto market liquidated over $624 million worth of leveraged positions in the past 24 hours, 83% of which were long positions.
The cryptocurrency market could see over $212 million of leveraged long positions liquidated if the price of Ether (ETH) falls below the $3,100 mark.
Ether dropped 9.3% to $3,254 in the 24 hours leading up to 10:40 am UTC. Ether is down over 18% on the weekly chart, and falling to $3,100 would wipe over $212 million worth of long leverage, according to Coinglass data.
If Ether falls below the psychological $3,000 level, liquidations would reach $237 million.
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Source: https://cointelegraph.com/news/ether-liquidate-212-million-leveraged-long-positions