$1.5 billion bullish bets were liquidated, and cryptocurrencies plummeted in the afternoon

ChainCatcher news, according to Jinshi reports, on Monday, over $1.5 billion in bullish bets by cryptocurrency traders were forcibly liquidated, triggering a sharp decline, with small tokens being the hardest hit. Coinglass data shows that due to nearly $500 million in leveraged long positions being liquidated, Ethereum briefly fell 9% to $4,075, while Bitcoin dropped nearly 3% to $111,998. Within 24 hours, more than 407,000 traders were liquidated, and this sell-off briefly dragged the total market capitalization of all digital assets below $4 trillion, before a slight rebound occurred.