Crypto Traders Suffer Record Liquidation Losses

Crypto traders faced a massive liquidation event on September 23, with over $225 million in losses within a one-hour period.

Long-position liquidations totaled $219 million, while short-position liquidations reached $6.62 million, indicating that nearly all of the losses were incurred by traders betting on price increases.

Ether (ETH) led the pack with $59.87 million in liquidations, followed closely by Bitcoin (BTC) at $57.49 million.