After a brief recovery, the crypto market was back in the red. The largest cryptocurrency by market, Bitcoin (CRYPTO: BTC), dropped below $36,000 on Friday, following a sell-off in U.S. equities.
Reports suggested the plunge came as traders priced in higher interest rates to curb inflation in the U.S.
According to the Coinglass data, liquidations on crypto-tracked futures exceeded $407,000,000 in just 24 hours.
That included over $340.30 million worth of long positions that were wiped out, along with $67.3 million worth of short positions being liquidated.
Some of the most significant liquidations came from Bitcoin traders. Positions on more than 2,000 BTC worth $72.7 million …
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