<ul data-eligibleForWebStory="true"><li>Cryptocurrency long investors face significant losses as Bitcoin and altcoins experience a notable crash.</li><li>Bitcoin briefly dropped below $103,000 during the recent market downturn but has since bounced back to around $104,800.</li><li>Altcoins such as Ethereum, Solana, and Cardano have seen losses of over 7%.</li><li>Market sentiment has been impacted by escalating tensions in the Middle East following Israel's airstrikes on Iran.</li><li>The cryptocurrency market has witnessed over $1.13 billion in liquidations in the last 24 hours, with $1 billion involving long positions.</li><li>Liquidations occur when open contracts are forcibly closed after experiencing a defined percentage of loss.</li><li>The liquidation event is described as a 'squeeze', with a large number of long positions being liquidated in this case.</li><li>Bitcoin and Ethereum lead the liquidation figures with $451 million and $300 million, respectively, while Solana accounts for $53 million.</li></ul>

Crypto Bulls See $1 Billion Squeeze as Bitcoin, Altcoins Crash

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