Bitcoin and Ethereum Lead Market Resurgence with High Liquidation Volume

Bitcoin and Ethereum spearheaded the wave of cryptocurrency liquidations, with the fallout impacting over 54,000 traders by erasing their leveraged positions as the market's valuation approached $2.1 trillion.



According to CoinGlass, the digital currency sphere saw more than $145 million in liquidations within a 24-hour span across various trading platforms. With many investors betting on a price drop, short positions accounted for $91 million of these liquidated trades.



Despite these setbacks, the overall market capitalization of cryptocurrencies experienced a 1.2% increase, as reported by CoinGecko, negating the bearish wagers. The most significant single liquidation involved a $4 million stake in Bitcoin paired with USDT on Binance, the leading cryptocurrency exchange.



Between Bitcoin and Ethereum, traders collectively


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