Black Friday for Longs? $253 Million Wiped Out in 24 Hours over Binance News
- Regulatory actions deepen market fear as long liquidations exceed $253M in 24 hours.
- Bitcoin dominance climbs to 57.99% as investors retreat to established crypto assets.
- Small-cap tokens surge despite market turmoil, with $TUT leading gains at 131%.
The cryptocurrency market saw a sharp downturn in the last 24 hours. News that the Nigerian government charged major exchange Binance, alleging it facilitated money laundering, appeared to trigger the move.
This development sparked evident fear among traders, leading to significant selloffs, increased volatility, and over $253 million in liquidated long positions across derivatives markets within that 24-hour period.
How Did the Market React? BTC Dominance Rises, Fear Returns
Several top tokens, including KAITO, EIGEN, IP, and the TRUMP meme coin, dropped more than 10% following the news, contributing to the broader market decline. Reflecting this shift towards risk-off sentiment, the total crypto market capitalization fell towards $2.95 trillion.
Bitcoin dominance, meanwhile, climbed to nearly 58% as investors seemingly sought relative safety in Bitcoin amid the volatile conditions. The market’s cauti…
The post Black Friday for Longs? $253 Million Wiped Out in 24 Hours over Binance News appeared first on Coin Edition.
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Black Friday for Longs? $253 Million Wiped Out in 24 Hours over Binance News
- Regulatory actions deepen market fear as long liquidations exceed $253M in 24 hours.
- Bitcoin dominance climbs to 57.99% as investors retreat to established crypto assets.
- Small-cap tokens surge despite market turmoil, with $TUT leading gains at 131%.
The cryptocurrency market saw a sharp downturn in the last 24 hours. News that the Nigerian government charged major exchange Binance, alleging it facilitated money laundering, appeared to trigger the move.
This development sparked evident fear among traders, leading to significant selloffs, increased volatility, and over $253 million in liquidated long positions across derivatives markets within that 24-hour period.
How Did the Market React? BTC Dominance Rises, Fear Returns
Several top tokens, including KAITO, EIGEN, IP, and the TRUMP meme coin, dropped more than 10% following the news, contributing to the broader market decline. Reflecting this shift towards risk-off sentiment, the total crypto market capitalization fell towards $2.95 trillion.
Bitcoin dominance, meanwhile, climbed to nearly 58% as investors seemingly sought relative safety in Bitcoin amid the volatile conditions. The market’s cauti…
The post Black Friday for Longs? $253 Million Wiped Out in 24 Hours over Binance News appeared first on Coin Edition.
Read More
Two Crypto Views, One Outcome? CZ Sees Froth, Hayes Sees $1M BTC Catalyst