Crypto Market Hits $1.05B in Liquidations Over 24 Hours as Bitcoin Drops to 11-Week Low

on November 7, according to Decrypt, CoinGlass data showed the crypto market experienced $1.05 billion in liquidations over the past 24 hours, with longs totaling $930.04 million (88.2%) and shorts at $124.69 million.

Bitcoin dipped to $74,780.91 at one point, marking an intraday low since August 21, before recovering to around $75,570 by the time of reporting. Liquidations tied to Bitcoin positions amounted to $267.2 million, while Ethereum-related positions saw $167.14 million in liquidations.