The cryptographic market sees the main liquidation event in connection with a sudden crisis

Over half a billion in long positions was liquidated on the cryptocurrency market on Friday, because the price of Bitcoins dropped below USD 116,000 among the wider fall of the market.

According to Coumingss dataUSD 585.86 million in long positions were liquidated, and Bitcoin (BTC) accounted for USD 140.06 million, because it dropped by 2.63% to 115 356 USD.

“Dropping is a pure rinsing of the lever,” says Trader

Ether (ETH) took place with long liquidation of USD 104.76 million, falling by 1.33% to USD 3598 in the same period.

Over the past 24 hours, the cryptographic market has recorded 731.93 million total liquidation. Source: Kinglas

Dogecoin (Doge) has conducted losses among the 10 best cryptocurrencies by market capitalization, falling by 7% in the last 24 hours to $ 0.22 and withdrawing $ 26 million in long positions, According to To Nansen.

ASH CRYPTO. he said On Thursday, in the X post “this dump is a clean rinsing of the lever”. He explained:

“Many people missed Alts after they saw the pumping ETH firmly, so market producers abandoned and eliminated the late long.”

The sudden slowdown of the market led to the liquidation of 213,729 traders during this period, attracting many guards among the recent stubborn sentiments. In the entire management board, a total of 731.93 million dollars were removed from the market in compact and long positions.

The sentiment of the cryptographic market remains robust

On July 14, Bitcoin reached fresh highest levels of all time in the amount of USD 123,100, and many of them were waiting to continue.

Cryptocurrencies, Bitcoins price, markets — *Source:* *Kantonian cat*

Despite the withdrawal, the sentiment remains stubborn, with Crypto Fear & Greed Index appointment The result of “greed” of 70 in Friday’s update.

This is because several participants of the cryptocurrency industry recently divided forecasts regarding higher prices on the cryptographic market. Michael Novogratz, general director of Galaxy Digital, said on Thursday that he forecasts that Ether will reach at least USD 4000, which is about 9.8% augment from the current price.

Meanwhile, Bitfinex analysts he said In a market report on Wednesday that if Bitcoin is continued, the next main goal will be USD 136,000.

However, traders secure their plants against Bitcoin, which are quickly reversed. Return to Thursday price $ 119,500 would cause the risk of liquidation of around $ 3.07 billion.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.