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Bitcoin Loses $106K As Bullish Crypto Bets Rack Up $800M In Liquidations
Bitcoin dropped below $106,000 in early European hours Friday, with nearly $1.2 billion in crypto positions wiped out over the past 24 hours.Data shows that most of the damage came from long positions, reflecting how aggressively traders had positioned for a bounce earlier in the week.According to CoinGlass, almost 79% of total liquidations were long trades, affecting more than 307,000 accounts. The largest single hit was a $20.4 million ETH-USD long on Hyperliquid, a decentralized derivatives exchange that has quietly become one of the main engines of leveraged trading in crypto. Bitcoin accounted for roughly $344 ... (full story)
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