Crypto Market Crash as $595.8M in Longs is Liquidated, Bitcoin Slides to $105,000

The cryptocurrency market experienced a significant downturn as Bitcoin's price crashed, leading to the liquidation of $595.8 million in long positions. Despite this sharp decline, some market participants, particularly whales, managed to capitalize on the volatility. One whale reportedly profited $18 million from short positions, while another made a substantial bet of $34 million on a rebound.