Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»$80 Billion Lost Due to Flushout Leverage in Cryptocurrency Markets
ALTCOIN NEWS

$80 Billion Lost Due to Flushout Leverage in Cryptocurrency Markets

By Crypto FlexsDecember 11, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
 Billion Lost Due to Flushout Leverage in Cryptocurrency Markets
Share
Facebook Twitter LinkedIn Pinterest Email

The cryptocurrency market was a sea of ​​red this Monday morning, with Bitcoin falling 5% in an hour or so and altcoins suffering major losses. Moreover, liquidations have reached hundreds of millions in the past few hours.

A cryptocurrency market correction is underway, with millions of liquidations occurring during the Asian trading session on Monday morning.

Cryptocurrency leverage flushout

According to Coinglass, in the last 12 hours, cryptocurrency liquidations reached $354 million. The majority were long positions with a liquidation amount of approximately $313 million.

Additionally, as Coinglass reports, 117,770 traders were liquidated, with a total liquidation volume in the last 24 hours of just over $400 million.

Cryptocurrency liquidation. Source: Coinglass

Bitcoin price fell 4.4% daily, with the asset down to $41,926 at the time of this writing. BTC fell nearly 5% in less than two hours, from an intraday high of $44,000 to an intraday low of $41,783.

The asset appears to have found support at current levels following the formation of a rarely seen “Baht chart” formation. In the next step, the BTC price will fall to $39,500.

Read more: Top 10 Cryptocurrencies to Invest in December 2023

Cryptocurrency trader “RamenPanda” said, “I’ve told you about flash dumps several times. The dump is now complete.”

“It will take a long time for Bitcoin to resume its upward trend,” he added, predicting that altcoins will now start to move.

Others have suggested this is just a leveraged flushout. “This was a 100% planned and coordinated move to liquidate highly leveraged gamblers.” said Cryptocurrency trader “ImNotTheWolf.”

Moreover, a busy week awaits on the U.S. economic calendar. Federal Reserve meetings and inflation data typically result in increased market volatility, as we have already seen this week.

There is no alt season yet

Altcoins are suffering bigger losses as usual. The total market capitalization has fallen by about $80 billion, or 4%, over the past few hours.

As of this writing, the price of Ethereum was $2,238, down 5% on the day. However, other altcoins are suffering bigger losses.

XRP fell 7% on the day to $0.621, and Solana (SOL) fell 5.7% to $68.90.

Additionally, Cardano (ADA), Polkadot (DOT), Chainlink (LINK), Polygon (MATIC), Shiba Inu (SHIB), and Litecoin all fell by more than 6%.

Few altcoins are bucking the trend, but among them Avalanche (AVAX), Immutable (IMX), and Injective (INJ) are on the rise today.

Read more: 9 Best AI Cryptocurrency Trading Bots to Maximize Your Profits

disclaimer

In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SOL remains fixed below $200 despite surge in ETF trading volume

October 30, 2025

ETF Land Rush: Solana’s filing speed outpaces XRP and matches BTC.

October 23, 2025

Crypto Market Rebound, L2 Surge and ZEC Shock: Daily Insights

October 16, 2025
Add A Comment

Comments are closed.

Recent Posts

SOL remains fixed below $200 despite surge in ETF trading volume

October 30, 2025

Bybit’s BbSOL Gains Institutional Custody Support From Anchorage Digital, Reinforcing Its Institutional-Grade Standing

October 30, 2025

OKX Ventures Invests in Accountability for Enhanced Financial Verification

October 30, 2025

Injective (INJ) Completes First Community Buyback Worth $32 Million

October 29, 2025

Whale.io Confirms First Airdrop For Crock Dentist NFT Holders

October 29, 2025

BTC And XRP Prices Fluctuate Dramatically. WOAHash Helps Holders Earn $9,900 In Daily Returns.

October 29, 2025

Acre Launches V2 Platform, Enabling Bitcoin Holders To Earn 14% APY (est.) From Self-Custody

October 29, 2025

BitcoinOS $BOS Token Is Live On Binance Alpha And Top Tier CEX Listings, Advancing Institutional BTCFi

October 29, 2025

MEXC Maintains Strong Financial Stability With Over 100% Proof Of Reserve Across Major Assets

October 29, 2025

Australia provides clarity on cryptocurrency regulation with new guidelines

October 29, 2025

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

SOL remains fixed below $200 despite surge in ETF trading volume

October 30, 2025

Bybit’s BbSOL Gains Institutional Custody Support From Anchorage Digital, Reinforcing Its Institutional-Grade Standing

October 30, 2025

OKX Ventures Invests in Accountability for Enhanced Financial Verification

October 30, 2025
Most Popular

Two new altcoins listed on Korea’s largest cryptocurrency exchange

February 27, 2024

The Mystery Behind $289 Million Worth of ETH Traded for the First Time in 7 Years

July 26, 2024

Ethereum Network Revenues Plummet 99%, ‘Death Spiral’ Concerns Spread

September 5, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.