Crypto market sees $132M in liquidations as long positions dominate losses

Key Takeaways

• The crypto market experienced $132 million in liquidations, mostly affecting long positions.
• Bitcoin and Ethereum were central to the liquidation events, accounting for significant trading volume.

More than $132 million in liquidations were triggered in the past hour as the broader crypto market moved sharply lower, with Bitcoin falling to the $85,000 level on Monday midday and setting off a wider sell-off across major assets.

Bitcoin and Ethereum led the liquidation activity as the downturn forced traders to unwind leveraged positions at an accelerated pace. Most of the losses came from long positions, which accounted for $124 million of the total, while short liquidations totaled $8 million.

At press time, Bitcoin is trading near $84,500, and Ethereum is near $2,720, as selling pressure continues to weigh on the market.