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Leveraged Crypto Traders Lose $563M in Market Dip
Description
Crypto traders face massive losses as leveraged bullish bets wiped out, totaling $563 million in a single day. Bitcoin and Ether lead the downturn, with $160 million and $244 million in long positions liquidated respectively. The drop is linked to inflation data, pushing up Treasury yields and making riskier assets like crypto less attractive. This event underscores the volatile nature of crypto markets, even with positive regulatory progress, and the influence of global economic trends.
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