The post Nearly $2 Billion Wiped as Fast-Moving Bear Market Hits Crypto appeared on BitcoinEthereumNews.com. The crypto market experienced nearly $2 billion in liquidations over the past 24 hours, as the total market capitalization dropped below $3 trillion for the first time in five months. Bitcoin (BTC) alone accounted for nearly half of the total liquidations, with traders betting on further upside taking the biggest losses during the latest wipeout. Sponsored Sponsored Major Liquidation Cascade Sweeps Crypto Market According to data from Coinglass, the cryptocurrency space has experienced another significant liquidation event. Over the past 24 hours, 391,164 traders were liquidated, pushing total liquidations to $1.91 billion. Long positions represented $1.78 billion of the total liquidated, while shorts totaled just $129.3 million. The single largest liquidation took place on Hyperliquid, a decentralized perpetuals exchange, where a BTC-USD position worth $36.78 million was closed. Crypto Liquidations Near $2 billion. Source: Coinglass Bitcoin led all liquidations, with $929 million of its $960 million total from long positions. Ethereum (ETH) followed with $403.15 million, again mostly from leveraged longs. On-chain data illustrates the significant impact of the wipeout on notable traders. PeckShieldAlert reported that several major ETH whales were liquidated after the second-largest cryptocurrency fell below $2,900. Individual liquidations ranged from $2.9 million to $6.52 million. Sponsored Sponsored Furthermore, Lookonchain highlighted that Machi, a high-profile figure, saw his account shrink to just $15,538. His total losses now exceed $20 million. Another significant loss was recorded by the “Anti-CZ Whale.” The blockchain analytics firm noted that this trader’s profit on Hyperliquid fell substantially in just 10 days. Large leveraged long positions in ETH and XRP were primarily responsible. Moreover, the whale was again liquidated today. “He was once a legend with nearly $100 million in profit — now his profits have dropped to $30.4 million,” Lookonchain added. This sell-off comes as the total market capitalization dropped over 6% in… The post Nearly $2 Billion Wiped as Fast-Moving Bear Market Hits Crypto appeared on BitcoinEthereumNews.com. The crypto market experienced nearly $2 billion in liquidations over the past 24 hours, as the total market capitalization dropped below $3 trillion for the first time in five months. Bitcoin (BTC) alone accounted for nearly half of the total liquidations, with traders betting on further upside taking the biggest losses during the latest wipeout. Sponsored Sponsored Major Liquidation Cascade Sweeps Crypto Market According to data from Coinglass, the cryptocurrency space has experienced another significant liquidation event. Over the past 24 hours, 391,164 traders were liquidated, pushing total liquidations to $1.91 billion. Long positions represented $1.78 billion of the total liquidated, while shorts totaled just $129.3 million. The single largest liquidation took place on Hyperliquid, a decentralized perpetuals exchange, where a BTC-USD position worth $36.78 million was closed. Crypto Liquidations Near $2 billion. Source: Coinglass Bitcoin led all liquidations, with $929 million of its $960 million total from long positions. Ethereum (ETH) followed with $403.15 million, again mostly from leveraged longs. On-chain data illustrates the significant impact of the wipeout on notable traders. PeckShieldAlert reported that several major ETH whales were liquidated after the second-largest cryptocurrency fell below $2,900. Individual liquidations ranged from $2.9 million to $6.52 million. Sponsored Sponsored Furthermore, Lookonchain highlighted that Machi, a high-profile figure, saw his account shrink to just $15,538. His total losses now exceed $20 million. Another significant loss was recorded by the “Anti-CZ Whale.” The blockchain analytics firm noted that this trader’s profit on Hyperliquid fell substantially in just 10 days. Large leveraged long positions in ETH and XRP were primarily responsible. Moreover, the whale was again liquidated today. “He was once a legend with nearly $100 million in profit — now his profits have dropped to $30.4 million,” Lookonchain added. This sell-off comes as the total market capitalization dropped over 6% in…

                                                                               Macro analyst Luke Gromen’s comments come amid an ongoing debate over whether Bitcoin or Ether is the more attractive long-term option for traditional investors.                     Macro analyst Luke Gromen says the fact that Bitcoin doesn’t natively earn yield isn’t a weakness; it’s what makes it a safer store of value.“If you’re earning a yield, you are taking a risk,” Gromen told Natalie Brunell on the Coin Stories podcast on Wednesday, responding to a question about critics who dismiss Bitcoin (BTC) because they prefer yield-earning assets.“Anyone who says that is showing their Western financial privilege,” he added.Read more