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@ Layer3.news
2025-02-25 08:40:29
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BULLISH CRYPTO BETS LOSE $1.2B AS BITCOIN FUMBLES TO UNDER $89K, XRP DOWN 14%
https://cdn.sanity.io/images/s3y3vcno/production/71c8dd126a2a41c0f4020ccd528b4cb92eb304ce-1717x591.png?auto=format
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✍️ Crypto market slump worsened on Tuesday, with traders nursing at least $1.2 billion in losses, driven by liquidations on exchanges such as Bybit, Binance, and OKX.
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👉 At least $1.2 billion in losses reported across various exchanges
👉 Bybit led liquidation figures with over $600 million lost
👉 Binance and OKX also reported significant losses
👉 Liquidations occur when a trader's leveraged position is forced to close due to a partial or total loss of initial margin
👉 Risk-off sentiment and investors fleeing to safer assets contributed to the market slump
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