The broader crypto market experienced a major crash on December 9. While the Bitcoin price dropped from $101,109 to as low as $94,150, marking a -7% decline, the altcoin market suffered significantly more severe losses. Ethereum fell by as much as -12% at one point, XRP by -22%, Solana by -15%, Cardano by -23%, Dogecoin by -19%, and Shiba Inu by -25%. According to Coinglass data, more than 562,000 traders were liquidated in the past 24 hours, and total liquidations reached $1.7 billion. The largest single liquidation order took place on Binance in the ETHUSDT pair, valued at $19.69 million. Of the $1.7 billion in total liquidations, $1.55 billion involved long positions. Notably, Bitcoin’s leverage flush was relatively modest compared to that of altcoins, with $143 million in BTC longs liquidated. By contrast, ETH saw $219 million in liquidations, SOL $57 million, DOGE $86 million, XRP $53 million, and ADA $22 million. Across the entire crypto market, this represented the largest leverage flush since April 2021, when a record $10 billion in crypto futures liquidations occurred in a single day. This surpassed the previous record of $5.77 billion. Related Reading: November Crypto Pe ..
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