Crypto Longs Get Rekt in $1.7B Flush 🩸📉🎢 Crypto news and key statistics summarized in 90 seconds every weekday on @NiftyNoonNFT⬇️: Nifty Thought: The crypto market started the week with a major downturn, as roughly $1.7 billion in leveraged positions were liquidated over the past 24 hours. This cascade, one of the largest liquidation events of the year, impacted over 400,000 traders. The vast majority of positions wiped out were longs, totaling about $1.62 billion after Bitcoin's price dipped below $113,000. While BTC saw a relatively modest drop to the $112,000 range, Ethereum and other altcoins felt an even greater impact, with ETH dropping over 6% and other major tokens like Solana and Dogecoin tumbling between 7–12%. While the sudden drop has shifted market sentiment toward fear, many analysts see this event as a healthy, albeit painful, market reset. The flushing out of overleveraged traders could establish more stable support levels for future price action. Despite the...
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