Leading cryptocurrencies plummeted Tuesday overnight, triggering large liquidations of bullish bets. What Happened: Bitcoin tanked from $57,790 to $55,676 in a matter of 15 minutes late evening, before clawing back to $56,400. The steep descent rippled across the market, with Ethereum too plunging to the early $2,300s. The slump resulted in liquidations topping $98 million in the last hour, with $91 million in upside bets getting wiped out at the time of writing. The total liquidations in the past 24 hours soared to $198 million. Bitcoin’s Open Interest dropped 4.14% in the past 24 hours, prov…
