Crypto Squeeze: $200M in longs liquidated as altcoins tumble to kick off the week – BitRss

• Over $200 million in long positions liquidated, triggering sharp declines across top altcoins
• Altcoins like Ethereum and Solana took the hardest hits amid a surge in volatility

The market was shaken by a massive wave of liquidations, wiping out over $200 million in long positions. As volatility surged, overleveraged traders faced heavy losses, particularly as far as altcoins are concerned.

Ethereum [ETH ($2,422.20)], Solana [SOL ($142.71)], and other top digital assets saw sharp declines, triggering a cascade of forced liquidations.

With Funding Rates flipping negative and uncertainty gripping the market, traders wonder if this is a temporary flush-out or a sign of deeper trouble ahead.

The liquidation event: What happened?

Recent data shows that the past 24 hours saw $268 million in total liquidations, with a staggering $217 million coming from long positions.

Liquidations occur when traders using leverage are forced to close their positions due to losses exceeding their …