Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • 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

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025
Add A Comment

Comments are closed.

Recent Posts

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 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

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025
Most Popular

The US encryption index ETF starts slowly on the first day after the list.

February 22, 2025

Flare onboards Google Cloud as its infrastructure provider

January 24, 2024

Ark Invest will lift the Bitcoin Bull case to $ 2.4m by 2030.

April 25, 2025
  • 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.