Midnight (NIGHT) drops 16% amid heavy long liquidations and retail selling pressure

Midnight (NIGHT) cryptocurrency fell about 16% in 24 hours, extending its two-day loss to over 21%, driven by a broader crypto market decline and loss of confidence. Long traders faced massive liquidations, with $74K in longs closed versus minimal short losses, indicating capitulation to bears. Key support levels were broken, and top Binance traders sold off, while retail investors sold heavily but whales bought, suggesting potential short-term recovery if bulls defend the $0.03188 level. Overall, NIGHT’s drop reflects wider market weakness and capital outflows.