The post $170 Million of Solana (SOL), Bitcoin (BTC) and Ethereum (ETH) Liquidated Amid Crypto Flash-Crash appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In a sudden market shake-up, over $170 million worth of Solan, Bitcoin and Ethereum were liquidated, as depicted by the latest crypto liquidation data. This flash-crash event has rattled the crypto sphere, occurring just a week before the New Year — a time when such volatility is not typically unexpected. The end-of-year period often sees a shift in market behavior. Retail investors are known to cash out for the holidays, and larger investors close their positions to avoid unpredictable swings during times of reduced liquidity. The liquidation data reflects this trend, showing a substantial number of positions being wiped out in the face of rapid price movements. Source: Coinglass Order books tend to thin out during the holiday season, with reduced trading volumes and some market makers stepping back, increasing the potential for volatility spikes. This environment can lead to quick and severe market movements, as currently evidenced on the crypto market. Despite this, the overall market still exhibits signs of an uptrend. The $170 million in liquidations, while significant, is not indicative of a market downturn but rather a typical response to the year-end climate. It is a pattern familiar to seasoned crypto enthusiasts, where the combination of profit-taking and risk aversion can momentarily disrupt the market. Historically, as the New Year begins and normal trading…

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Filed under: News - @ December 26, 2023 11:22 am