Crypto liquidations hit $1.8B in a day: Final flush or more to come?

Over $1.8 billion was flushed in one of the year’s most significant long liquidation events. An analyst says a dip back to the support zone is possible.

Overleveraged crypto traders were liquidated out of nearly $2 billion in one of the year’s largest market flush-outs on Monday, in what some analysts blame on technical factors rather than weakening market fundamentals. 

More than 370,000 traders have been liquidated to the tune of $1.8 billion over the past 24 hours, according to data from CoinGlass.

The majority of those positions had bet on Ether and Bitcoin, while altcoins also got hammered across the board. 

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