The crypto market started out the new week on a low note with prices of digital assets across the space plunging once again. As a result of this, a significant amount of liquidations have taken place across the market, leaving tens of thousands of investors nursing losses during this time.
Over 45,000 Traders Caught In Crypto Liquidations
The crypto liquidations ramped up quickly as Bitcoin lost its footing above the $29,500 support and dropped down to the low $29,000s. As a result, a large number of traders lost their positions rapidly, leading to a significant spike in the liquidation volumes.
According to data from Coinglass, over 45,000 crypto traders suffered losses as a result of the market fluctuations in the last day. Given that the price of the likes of Bitcoin fell, long traders were mostly the victims of these liquidations.
As the data tracker website shows, of the more than $130 million in liquidations recorded over the single-day period, long traders accounted for the over
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