$ 800 million of encryption has been eliminated with the market failure

After an impressive rise in the upward trend, the cryptocurrency market generally decreased again, erasing almost all of its gains. This sharp decline not only instilled the fear among investors, but also led to the liquidation of millions of dollars from merchants during the day, as the analysis company reported on the series Coinglass.

Coinglass data revealed that approximately 222,235 traders were classified amid the continuous uncertainty in the market, which led to a total liquidation of $ 801.30 million of cryptocurrencies. In addition, Coinglass The data also revealed that the largest single liquidation matter occurred on Bitmex.

Among these big qualifiers during the past 24 hours, the majority came from long positions, with more than 665 million dollars from long positions. This important liquidation in the long position is likely to be caused by the upcoming feelings of the merchants yesterday after the strategic declaration of encryption.

Besides this liquidation, the higher origins decreased dramatically, including Bitcoin (BTC), ETHEREM (ETH), XRP and Solana (Sol). Data from CoinmarketCap revealed that these assets have lost more than 9 %, 15 %, 18 % and 20 % of their value during the past 24 hours.

Today, after the 9 % price decreases, Bitcoin (BTC) is trading near 85,410 dollars. This remarkable decrease led to a 30 % increase in trading volume, indicating an increase in participation from merchants and investors.