Cryptocurrency markets saw over US$1.5 billion in long positions liquidated on September 22, leading to a sharp selloff across digital assets.

Ether, the second-largest cryptocurrency, dropped up to 9% to US$4,075 as nearly US$500 million in leveraged bullish bets were wiped out, according to Coinglass data.

Bitcoin also fell almost 3% to US$111,998 during the same period.

More than 407,000 traders had positions liquidated within 24 hours.

The selloff caused total cryptocurrency market capitalization to briefly slip below US$4 trillion before partially recovering.

🔗 Source: Bloomberg