HOT MOMENTS: Bitcoin and Altcoins Plunge – Why İs BTC Down? Here’s Latest Data

The cryptocurrency market experienced a sharp decline in the last hour. Experts attribute this sudden drop to long position liquidations. A slight correction resulting from high leverage accumulation triggered chain liquidations.

According to the data, a total of $208.33 million worth of positions were liquidated in the last hour alone, with $152.65 million coming from long positions and $55.68 million from short positions.

The broader market declined, with Bitcoin ($BTC) dropping 1.28% in the last hour to $112,864. Ethereum ($ETH) similarly lost 2.38% to $3,983. Both assets saw heavy liquidations, with $71.59 million in $ETH and $41.18 million in $BTC liquidated.

Chart showing the decline in $BTC price.

Significant activity was also observed in the altcoin market. Solana ($SOL) fell 2.14% in the last hour, falling to $193. Liquidation on $SOL totaled $35.21 million. Additionally, low-volatility but high-volatility tokens like PUMP and FARTCOIN saw liquidations totaling $7.49 million and $6.56 million, respectively.

Total liquidation in the last 24 hours reached $552.27 million. Of this, $395.29 million consisted of long positions and $156.98 million consisted of short positions. These figures once again demonstrate the high risk inherent in leveraged transactions in the market.

*This is not investment advice.