Crypto long traders lose $420 million in 24 hours following Bitcoin dip

Bitcoin, the primary crypto asset, witnessed a significant dip in price which affected other crypto assets and resulted in the liquidation of $420 million worth of long positions by crypto traders.

Cryptonews reported that 190,144 traders were liquidated with the total liquidations coming in at $480.93 million.

The $420 million out of the total liquidation figure belongs to traders who went long in their positions.