Bitcoin (BTC/USD) – $360 million in Bitcoin, Ethereum and other cryptos liquidated in 24 hours as US inflation data rocks markets

More than 100,000 traders have lost over $360 million in cryptocurrency markets over the past 24 hours as prices plunge, data from CoinGlass shows.

What happened: Bitcoins BTC/USD The price saw a sharp drop on Tuesday – from over $22,618 to around $20,062 – at the time of writing, after US inflation data for August came in higher than expected and sparked fears of aggressive rate hikes.

See also: IS BITCOIN A GOOD INVESTMENT?

Unsurprisingly, Apex coin saw the most liquidations, worth $134 million, followed by ether ETH/USDwhich saw $128 million worth of liquidations.

The largest single liquidation order took place on the cryptocurrency exchange OK on a $2.10 million ETH/USD swap pair.

Traders in long positions were hurt the most, with $273 million in long positions being liquidated across all major exchanges. Only $88 million worth of shorts were liquidated on the last day.

like altcoins Ethereum classic ETC/USD, Solana SOL/USD and Terra OFFICIAL/USD recorded daily major liquidations valued at $9.75 million, $7.9 million, and $4.28 million, respectively.

Raven Coin RVN/USD appeared in the list of the most liquidated cryptos over 24 hours after the token extended a week-long 85% rally. The coin saw $2.61 million liquidated in the last day.

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers