CAP crypto sees $59,400 wiped out – How long traders bore the brunt of this decline

Cap [CAP] has been on a downside, dropping 17% in the past day. The decline has been a steep one, with liquidation data from CoinGlass showing the extent of the losses. Long traders have lost roughly $59,400 compared to shorts, who have lost just $395.63 in the past 24 hours. This represents 150 times more losses for longs, suggesting the extent of the selling in the market. Despite the decline, AMBCrypto's analysis found that the market still maintained an edge in seeing a rebound, with a higher target from the present level.