Major cryptocurrencies experienced a drop on Monday, with $250 million in the crypto derivatives market facing liquidations.

Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)

Bitcoin (CRYPTO: BTC)
-3.10%
$69,058

Ethereum (CRYPTO: ETH)
-5.12%
$3,500

Dogecoin (CRYPTO: DOGE)
+5.30%
$0.18

What Happened: The increase in cryptocurrency prices couldn’t be maintained as we approach the April 10 Consumer Price Index (CPI) release, which is anticipated to be higher than expected.

As a result, major cryptocurrencies experienced a decrease in prices, triggering a wave of liquidations in the derivatives market. This caught bullish traders by surprise, resulting in a surge of long liquidations.

In the past 24 hours, over $242.87 million in long positions have been liquidated in the crypto market, with $152 million wiped out in the past 12 hours. When long derivative positions are liquidated without buying pressure from trading volume, it has a negative impact on asset prices.

A total of 83,164 traders were liquidated, and the largest single liquidation occurred with Ether on OKX, amounting to $7.53 million.

Top Gainer (24 Hour)

Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)

Nervos Network (CRYPTO: CKB)
+8.71%
$0.034

Bittenson (CRYPTO:

Full story available on Benzinga.com

Major cryptocurrencies experienced a drop on Monday, with $250 million in the crypto derivatives market facing liquidations.

Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)

Bitcoin (CRYPTO: BTC)
-3.10%
$69,058

Ethereum (CRYPTO: ETH)
-5.12%
$3,500

Dogecoin (CRYPTO: DOGE)
+5.30%
$0.18

What Happened: The increase in cryptocurrency prices couldn’t be maintained as we approach the April 10 Consumer Price Index (CPI) release, which is anticipated to be higher than expected.

As a result, major cryptocurrencies experienced a decrease in prices, triggering a wave of liquidations in the derivatives market. This caught bullish traders by surprise, resulting in a surge of long liquidations.

In the past 24 hours, over $242.87 million in long positions have been liquidated in the crypto market, with $152 million wiped out in the past 12 hours. When long derivative positions are liquidated without buying pressure from trading volume, it has a negative impact on asset prices.

A total of 83,164 traders were liquidated, and the largest single liquidation occurred with Ether on OKX, amounting to $7.53 million.

Top Gainer (24 Hour)

Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)

Nervos Network (CRYPTO: CKB)
+8.71%
$0.034

Bittenson (CRYPTO:

Full story available on Benzinga.com

 Major cryptocurrencies experienced a drop on Monday, with $250 million in the crypto derivatives market facing liquidations.

Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)

Bitcoin (CRYPTO: BTC)
-3.10%
$69,058

Ethereum (CRYPTO: ETH)
-5.12%
$3,500

Dogecoin (CRYPTO: DOGE)
+5.30%
$0.18

What Happened: The increase in cryptocurrency prices couldn’t be maintained as we approach the April 10 Consumer Price Index (CPI) release, which is anticipated to be higher than expected.
As a result, major cryptocurrencies experienced a decrease in prices, triggering a wave of liquidations in the derivatives market. This caught bullish traders by surprise, resulting in a surge of long liquidations.
In the past 24 hours, over $242.87 million in long positions have been liquidated in the crypto market, with $152 million wiped out in the past 12 hours. When long derivative positions are liquidated without buying pressure from trading volume, it has a negative impact on asset prices.
A total of 83,164 traders were liquidated, and the largest single liquidation occurred with Ether on OKX, amounting to $7.53 million.
Top Gainer (24 Hour)

Cryptocurrency
Gains +/-
Price (Recorded 12:00 a.m. EDT)

Nervos Network (CRYPTO: CKB)
+8.71%
$0.034

Bittenson (CRYPTO: Full story available on Benzinga.com   Read More$BTC, $CKB, $DOGE, $ETH, $FTM, $TAO, Bitcoin, BTC, Cryptocurrency, dogecoin, Ethereum, News, Top Stories, Markets, Movers, BTC, US2036121067, $ETH, $BTC, $DOGE, $FTM, $CKB, $TAO, News, Cryptocurrency, Top Stories, Markets, Movers, Benzinga Markets