Liquidations Totaling $1.7 Billion Rock Cryptos as the Week Starts
The week started on a rough note for the cryptocurrency market, with sharp sell-offs leading to one of the largest liquidation events in recent history. More than $1.7 billion worth of positions across major digital assets were wiped out, according to data from Coinglass. Liquidations take place when a trading account no longer has enough margin to cover ongoing losses, forcing traders to automatically close open positions. These events often trigger a domino effect during periods of high volatility, leading to sharper moves in the market. The majority of the wipeout came from long positions, accounting for nearly $1.62 billion…