The cryptocurrency market suffered a sudden sell-off late on October 6, with total digital asset valuation dropping from $2.88 trillion to $2.82 trillion within a single hour, a $60 billion loss.
Zooming out, the decline appears larger when measured against the week's high. Between the $2.92 trillion peak reached on Tuesday and press time on Wednesday, October 7, the market lost $100 billion in total valuation.
Data from CoinGlass shows that over the trailing 24-hour period, as many as 106,952 traders were liquidated. The majority of these liquidations came from long positions, which accounted for $608.34 million of the total. Out of the full daily liquidation amount, 86.69%, or $527.39 million, stemmed from long positions alone.
The source report was cut off before further breakdown of the liquidation data by asset or exchange was provided.
