Over $1 billion in crypto liquidated in 24 hours
A total of $1.12 billion in cryptocurrency was liquidated over the past 24 hours, with $961.92 million coming from long positions and $162.61 million from shorts, according to data Finbold retrieved from Coinglass . With $445.25 million wiped, Bitcoin (BTC) bore the brunt of the impact, followed by Ethereum (ETH), which saw $230.49 million “rekt” in the same period. Crypto liquidations. Source: Coinglass A total of 213,250 trades were liquidated, with the single largest order taking place on Hyperliquid, valued at $21.42 million. Crypto market roller-coaster The drop was largely the result of Chair Jerome Powell’s Wednesday speech, in which he poured cold water on the hopes of another cut in December. “There were strongly differing views about how to proceed in December. A further reduction in the policy rate at the December meeting is not a foregone conclusion,” said Powell. What’s more, the liquidation wave comes as investors welcome new signs...