Crypto downturn nukes $190M leveraged positions as traders eye CPI data

The liquidation comes just a few days after the crypto market recorded a $400 million liquidation on Friday, June 7.

On June 11, Bitcoin fell 2.5% from its daily high of $69,547 to a low of $66,018. Ether experienced an even larger percentage decline, falling 2.58% to $3,500. The crypto market downturn significantly impacted leveraged trades, wiping out nearly $200 million.

According to data from crypto analytic firm CoinGlass, over the past 24 hours, 83,912 traders were liquidated, with a total liquidation of $190.97 million. The largest single liquidation order happened on OKX, with an ETH/USDT swap value of $5.21 million.

When a trader fails to meet margin requirements or runs out of money to maintain the open position, an exchange will liquidate a leveraged position, resulting in a partial or whole loss of the trader’s initial margin.

The liquidation comes just a few days after the crypto market recorded a $400 million liquidation on Friday, June 7.
On June 11, Bitcoin fell 2.5% from its daily high of $69,547 to a low of $66,018. Ether experienced an even larger percentage decline, falling 2.58% to $3,500. The crypto market downturn significantly impacted leveraged trades, wiping out nearly $200 million.According to data from crypto analytic firm CoinGlass, over the past 24 hours, 83,912 traders were liquidated, with a total liquidation of $190.97 million. The largest single liquidation order happened on OKX, with an ETH/USDT swap value of $5.21 million.When a trader fails to meet margin requirements or runs out of money to maintain the open position, an exchange will liquidate a leveraged position, resulting in a partial or whole loss of the trader’s initial margin.Read more