$500 Million in Futures Positions Liquidated in One Hour amid Crypto Market Pullback

IconCryptoNewsTerminal Staff29 Jul, 2024

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$500 Million in Futures Positions Liquidated in One Hour amid Crypto Market Pullback

Futures positions worth a staggering $500 million have been liquidated on major exchanges in the past hour, signaling a sharp pullback in the cryptocurrency market. This intense liquidation event comes amidst a broader market correction that has seen Bitcoin and other digital assets shed value over the past 24 hours. In the past 24 hours alone, approximately $183 million worth of futures positions have been liquidated, underscoring the volatility and risk associated with leveraged trading in the cryptocurrency market. As investors monitor the evolving market conditions, it remains to be seen whether this latest liquidation event will have broader implications for the digital asset ecosystem.

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