Crypto Liquidations Top $1 Billion as Bitcoin’s Slide Deepens

Souring Bitcoin sentiment has triggered almost $1.5 billion in crypto liquidations over the past 24 hours, as the largest digital asset sank back to a two-month low.

This forced deleveraging — the automatic, mandatory closure of high-risk trades by crypto exchanges — is the largest volume seen since February, according to data compiled by CoinGlass. Almost $800 million positions in Bitcoin were wiped out.

Bitcoin slipped as much as 7% to below $67,000 on Tuesday for the first time since April as lingering concern about the conflict in Iran and selling by major holder Strategy Inc. continued to dent investor ...