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Bitcoin, Ethereum Futures Traders Hit by $320M in Liquidations Overnight


Bitcoin and Ethereum futures traders experienced significant losses as prices dropped below support levels, with Bitcoin seeing one of the largest two-day price drops since mid-June. This decline in Bitcoin caused other major cryptocurrencies like Ethereum, XRP, and Solana to also fall. Liquidations on futures contracts for major tokens reached over $320 million in losses this week. Traders who bet on higher prices accounted for 90% of the total liquidations.
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