Over $800 Million in Liquidations Amidst Asian Chip Stock Sell-off

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In the past 24 hours, leveraged liquidations across 10 exchanges totaled approximately $803 million, with long positions accounting for $694 million (86% of the total) and affecting 172,113 traders. Notably, tokenized SanDisk stock bets experienced more liquidations than XRP bets during a sell-off in Asian chip stocks. The largest single liquidation was a $9.65 million Bitcoin long position on Binance. Later, as Bitcoin recovered above $83,000, short positions accounted for 79% of the $74 million liquidated in the subsequent four hours. This highlights significant market volatility and deleveraging, particularly for long positions, driven by broader market sentiment potentially influenced by traditional equity markets (Asian chip stocks). The comparison between tokenized SanDisk and XRP liquidations underscores the growing presence and leverage in tokenized traditional assets within crypto exchanges. The global market cap is down -2.69% in the last 24 hours. Bitcoin saw a dip below $81,000 before recovering to its current $83,592.