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The cryptocurrency market slump led to the liquidation of $1.7 billion in futures positions – Bithodler Crypto News

The cryptocurrency market slump led to the liquidation of $1.7 billion in futures positions

πŸ“‰ On December 9, 2024, Bitcoin briefly dropped to $94.250. Bitcoin's dominance increased, while altcoins lost 10–20%, with Cardano (ADA) falling the most at 12.4%.  

A total of 580.000 traders had their positions liquidated, with $1.5 billion from LONG-positions and $185 million from SHORT-positions. Most liquidations involved altcoin pairs.  

πŸ”΄The largest liquidations occurred on Binance ($739 million), OKX ($447 million), and Bybit ($377 million). The biggest single liquidation was $19.69 million on Binance in the ETH/USDT pair.