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Some $170 million in Ether long positions were forcibly closed as the crypto market tumbled, on-chain liquidation data shows.
Bitcoin's failure to sustain $62,000 generated spillover selling that weighed on investor sentiment across the altcoin complex, leaving $ETH price in an uncertain balance.
A Leveraged Unwind Across Ether Markets When a long position is liquidated, the exchange closes it automatically once collateral falls below the margin threshold — converting paper losses into realized ones.
A $170 million wave of such forced exits in $ETH signals that a substantial cohort of leveraged bulls had built positions that could not absorb the market's downturn.
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