Bitcoin and Ethereum Rebound After Historic Crypto Crash
Crypto prices are recovering after a significant selloff triggered a massive liquidation wave.
The crypto market is regaining losses following a sell-off that resulted in one of the worst liquidation events in its history. On Friday, Bitcoin fell from $121,000 to $109,000, while Ethereum dipped to $3,686 and Solana touched $173.
A "flash crash of liquidations" wiped almost $7 billion across all markets within one hour, with $5.5 billion coming from longs, according to Sean Dawson, head of research at Dervie.
- Nearly $20 billion in liquidations across all digital assets were wiped out in a single day on Friday.
- $16.7 billion in long positions made up the majority of the losses, according to CoinGlass data.
Author's summary: Crypto market rebounds after historic crash.
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