Bitcoin, Ether price slump leads to crypto bloodbath with $1B in liquidations

The Bitcoin (BTC) and Ether (ETH) price slump on Aug. 18 saw the top two cryptocurrencies fall to a two-month low and triggered a series of liquidations for thousands of derivative traders. The crypto bloodbath led to billions of dollars worth of hedged positions being liquidated and several traders lost millions of dollars in a single trade. According to CoinGlass data, a total of 176,752 traders got liquidated over the past 24 hours. 90% of these liquidations took place within the last 12 hours, indicating a rapid rise in price…

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