Key Takeaways
- The crypto market experienced $340 million in liquidations within four hours.
- Experts are warning traders about the risks of leverage during volatile declines.
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Around $340 million in leverage positions were liquidated in the last four hours as Bitcoin, Ethereum, and other crypto assets slid, according to CoinGlass data.
Bitcoin fell to $93,000 after briefly surging above $95,000 on Monday morning. The largest cryptocurrency was trading around $93,700 at press time, extending its weekly losses to more than 10%.
Ethereum retreated to $3,100, while XRP, Solana, BNB, TRON and other top cryptocurrencies also slid in the downturn.
The sharp swings across major cryptocurrencies underscored mounting market volatility, with rapid price drops triggering a wave of forced closures on derivatives platforms.