Crypto market liquidations likely reached $10B — Bybit CEO
According to Bybit CEO Ben Zhou, recent liquidations in the crypto market may have exceeded $10 billion, significantly higher than earlier estimates. Bybit alone accounted for over $2.1 billion of these liquidations within 24 hours on February 3. Zhou's estimate suggests total liquidations could be somewhere between $8 billion and $10 billion amid growing macroeconomic concerns. This correction comes just after an executive order was signed in the United States affecting imports from China, Canada, and Mexico, amplifying market volatility. The market correction has led to widespread liquidation events, intensifying fears about market stability.
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