Over $1.8 billion was flushed in one of the year’s most significant long liquidation events. An analyst says a dip back to the support zone is possible.
Overleveraged crypto traders were liquidated out of nearly $2 billion in one of the year’s largest market flush-outs on Monday, in what some analysts blame on technical factors rather than weakening market fundamentals.
More than 370,000 traders have been liquidated to the tune of $1.8 billion over the past 24 hours, according to data from CoinGlass.
The majority of those positions had bet on Ether and Bitcoin, while altcoins also got hammered across the board.
