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The past hour has caused a bloodbath within the cryptocurrency industry as most of them took a massive beating.

This saw a whopping $160 million worth of liquidated leveraged long positions in less than sixty minutes, the bulk of which came from ETH traders.

According to data from Coinglass, the total amount of liquidations throughout the past hour alone is $164 million.
Given that 98% of these came from leveraged long positions, only $4 million was from short sellers. The bulls took a beating.
The bulk of the liquidations in the past hour came from ETH positions which account for around $36 million.
Bitcoin remains a close second with about $27.6 million, followed by DOGE and XRP.

Source: TradingView

The post $160 Million Long Positions Liquidated in Minutes as Bitcoin Crashes Below $29K appeared first on CryptoPotato.

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