$ 7.6 billion in crypto-long positions were liquidated in the last hour, as the price of bitcoins dropped to $ 52,000, according to data from bybt.com.
The price of bitcoins began to fall in early Saturday, but the steep decline began around 3:00 UTC on Sunday.
The price of bitcoins has fallen by more than 10% in the last hour, from $ 58,000 to below $ 52,000, during which about $ 4.3 billion in bitcoin long positions were liquidated.
At the time of writing, the price of bitcoin has returned to about $ 55,000.
In total, $ 9.2 billion in crypto-long positions have been liquidated in the last 24 hours.