Crypto Drop Wipes Out $370M in Bullish Bets as BTC, ETH Give Back Gains

A recent downturn in the cryptocurrency market has led to the eradication of approximately $370 million in bullish bets, predominantly affecting investors who were optimistic about the future performance of Bitcoin (BTC) and Ethereum (ETH). As a result of this sharp decline, both digital currencies have retraced significant gains they had previously attained, leaving many traders reeling from the sudden shift in market sentiment. source: https://www.coindesk.com/markets/2025/12/11/crypto-drop-wipes-out-usd370m-in-bullish-bets-as-btc-eth-give-back-gains