Crypto Market Suffers $2.08 Billion Liquidation Over Past 24 Hours

A massive sell-off occurred in the cryptocurrency market over the past 24 hours, resulting in a total of $2.08 billion in liquidations across all exchanges.

The majority of these liquidations were long positions, with $1.52 billion in losses reported as investors scrambled to cut their exposure to the volatile market.

In contrast, short sellers fared relatively better, with only $555,656,000 in losses due to the collapse of their bets against the market.