Bitcoin’s latest sell-off wiped out $612M, but the real warning lies elsewhere
Liquidation data for the past 24 hours showed that Bitcoin [BTC] witnessed $169.28 million in liquidations in the past 24 hours. The majority were long liquidations. Across the market, $612.04 million has been liquidated, with $548.72 million being bullish bets. This represented the largest single-day liquidations since the price crash toward $60k that occurred on June 4.