Cryptocurrency market sees $340M wiped out in four-hour plunge
Key Takeaways
- The crypto market experienced $340 million in liquidations within four hours.
- Experts are warning traders about the risks of leverage during volatile declines.
Around $340 million in leverage positions were liquidated in the last four hours as Bitcoin, Ethereum, and other crypto assets slid, according to CoinGlass data .
Bitcoin fell to $93,000 after briefly surging above $95,000 on Monday morning. The largest cryptocurrency was trading around $93,700 at press time, extending its weekly losses to more than 10%.
Ethereum retreated to $3,100, while XRP, Solana, BNB, TRON and other top cryptocurrencies also slid in the downturn.
The sharp swings across major cryptocurrencies underscored mounting market volatility, with rapid price drops triggering a wave of forced closures on derivatives platforms.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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