Over $19 billion liquidated in worst crypto crash since COVID

The announcement sent crypto markets into a massive freefall. At one point, Coinglass data showed that more than $19.2 billion in leveraged positions were liquidated, marking the largest single-day wipeout ever for crypto. As per Kraken, Bitcoin (BTC) plunged more than 10%, briefly dipping below $110,000 before clawing back to $112,000.