The encrypted market once flashed crash, with over $1.2 billion positions being liquidated within 24 hours.

According to Coinglass data, on Monday, over 319,433 positions in the crypto market were liquidated within 24 hours, totaling over $1.2 billion. Of this amount, over $1.1 billion worth of long positions were liquidated, while short positions only accounted for $115.5 million. Before the large liquidation event, Bitcoin and Ethereum experienced flash crashes, dropping from $108,000 to $105,000 and $3,700 to $3,500 respectively within an hour. During the same hour, the total liquidation amount for these two assets exceeded $100 million. American investors may have been the vanguard of this decline, as the Coinbase Bitcoin premium index hovered around - $30 during the crash. Throughout the entire weekend, this index was predominantly negative, reaching as low as - $80 on Friday.