A sharp cryptocurrency market sell-off on Tuesday morning triggered over $700 million in total liquidations, with long positions accounting for approximately $595 million of the losses.
Key Takeaways:
Crypto liquidations topped $700 million on Tuesday as bitcoin fell under $62,000, wiping out June 22 gains.Long positions made up 80% of total losses, hitting bitcoin and ethereum for a combined $369 million.Analysts predict a nested bear flag structure will drag bitcoin down to $50,000 next.
