Ethereum

Cardano

2024

April

<div class="finbold">
 <p class="paragraph">Crypto traders have lost over $100 million in the last four hours of this writing amid leverage position liquidations. The cryptocurrency market crashed by nearly $100 billion in capitalization since April 29’s opening, triggering these liquidations.</p>
 <p class="paragraph">Following a high-volatility event, crypto traders registered $101.39 million in losses in a 4-hour time frame. In particular, $96.62 million were from long-position liquidations, drastically punishing the bulls as cryptocurrencies trembled. Finbold retrieved this data from <em>CoinGlass</em> on April 30 at 13:00 UTC.</p>
 <p class="paragraph">Notably, Ethereum (ETH) led the losses with $28.47 million worth of collateral compulsively sold in exchanges, while Bitcoin (BTC) has slightly less than $20 million in liquidations in the same 4-hour period.</p>
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 <p class="paragraph">The 12-hour time frame registered twice the liquidation volume, with $204.56 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in losses and $189.92 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> from long positions. Meanwhile, crypto <a rel="noopener noreferrer nofollow" title="traders" href="https://thebittimes.com/tag/traders.html">traders</a> lost $273.38 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in the last 24 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a>, also massively dominated by long positions.</p>
 <p class="paragraph">Nearly 100,000 traders were victims of the market’s volatility. Binance had the largest single liquidation—worth $5 million—with the ETH/USDT pair.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="350" src="https://cdn.thebittimes.com/images/2024/04/30/aac3acfbd4acb773e4246ec710112268.webp" alt class="wp-image-172804" srcset="https://cdn.thebittimes.com/images/2024/04/30/aac3acfbd4acb773e4246ec710112268.webp 1024w, https://cdn.thebittimes.com/images/2024/04/30/aac3acfbd4acb773e4246ec710112268.webp 300w, https://cdn.thebittimes.com/images/2024/04/30/aac3acfbd4acb773e4246ec710112268.webp 768w, https://cdn.thebittimes.com/images/2024/04/30/aac3acfbd4acb773e4246ec710112268.webp 1536w, https://cdn.thebittimes.com/images/2024/04/30/aac3acfbd4acb773e4246ec710112268.webp 1836w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Liquidation Heatmap and Total Liquidations. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-100-billion-erased-from-crypto-as-traders-got-rekt">$100 billion erased from crypto as traders got ‘rekt’</h2>
 <p class="paragraph">On April 29, the cryptocurrency <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> started with a $2.264 trillion capitalization, according to <em>TradingView</em>‘s total crypto cap index. A day later, the index dropped to as low as $2.165 trillion, with nearly $100 billion in losses from the whole ecosystem.</p>
 <p class="paragraph">Fear, uncertainty, and doubt (FUD) surged as the dominating sentiments with crypto <a rel="noopener noreferrer nofollow" title="traders" href="https://thebittimes.com/tag/traders.html">traders</a> accumulating massive losses.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="662" src="https://cdn.thebittimes.com/images/2024/04/30/f8aca73317b0cfa5e72a15db5569bc09.webp" alt class="wp-image-172805" srcset="https://cdn.thebittimes.com/images/2024/04/30/f8aca73317b0cfa5e72a15db5569bc09.webp 1024w, https://cdn.thebittimes.com/images/2024/04/30/f8aca73317b0cfa5e72a15db5569bc09.webp 300w, https://cdn.thebittimes.com/images/2024/04/30/f8aca73317b0cfa5e72a15db5569bc09.webp 768w, https://cdn.thebittimes.com/images/2024/04/30/f8aca73317b0cfa5e72a15db5569bc09.webp 1536w, https://cdn.thebittimes.com/images/2024/04/30/f8aca73317b0cfa5e72a15db5569bc09.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Crypto total market cap index. Source: <em>TradingView</em>/Finbold
  </figcaption>
 </figure>
 <p class="paragraph">Interestingly, while some traders panic-sold and closed their positions, others saw this movement as an opportunity for accumulation. However, cryptocurrencies have broken key support levels during the crash, entering a short-term discovery mode. Therefore, the price could drop further in the following days before setting solid grounds for a bounce.</p>
 <p class="paragraph">Additionally, investors are now expecting over $4 billion in token unlocks in May, while their eyes are also on the U.S. Federal Reserve’s next interest rate decision, scheduled for Wednesday.</p>
 <p class="paragraph"><strong><em>Disclaimer: </em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-traders-lost-100-million-in-4-hours-as-the-market-crashed-tbt87042.html">https://thebittimes.com/crypto-traders-lost-100-million-in-4-hours-as-the-market-crashed-tbt87042.html</a></p>

Crypto traders lost $100 million in 4 hours as the market crashed

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