Bitcoin hit new all-time highs above $118,000 as investors tap the cryptocurrency as a hedge against U.S. fiscal expansion, a Nansen analysts said.
Data shows the rebound in Bitcoin and other cryptocurrencies has punished the bears, triggering a massive wave of short liquidations. Crypto Sector Has Just Witnessed A Mass Liquidation Event According to data from CoinGlass, a large amount of liquidations have piled up on the cryptocurrency derivatives market. “Liquidation” refers to the forceful shutdown that any open contract has to go through if its losses exceed the threshold defined by its platform. Related Reading: This Bitcoin Zone Could Be Market’s Next True ‘Pivot,’ Says Glassnode Below is a table that shows the numbers related to the latest liquidations in the market. As displayed, the cryptocurrency sector has seen a derivatives flush of over half a billion dollars during the past day. Out of these, 73.7% of the liquidations, equivalent to $371 million, came from the short investors alone. The short-heavy mass liquidations have come as Bitcoin and company have rebounded following the news of a ceasefire between Israel and Iran. Earlier, US strikes on Iranian nuclear facilities had induced a crash in the market that ended up unleashing a flurry of long liquidations. This time, it seems the bears have been the ones caught out instead. As usual, Bitcoin and Ethereum have topped the list of liquidations, but interestingly, the latter ($168 million) has managed to outweigh the former ($153 million), which is generally not the case. Ethereum observing a higher amount of liquidations could come down to the fact that its price has seen a larger jump during the past day (7% vs 3.5%). It could also be an indication of an elevated level of speculative interest in the cryptocurrency. Out of the altcoins, Solana and XRP have topped the charts with $29 million and $13 million in liquidations, respectively. Though clearly, these numbers are quite small compared to the figures of the top two titans, showcasing the sheer difference in capital involved. In some other news, Bitcoin taker buy volume has shot up on the cryptocurrency exchange Bybit, as an analyst has pointed out in a CryptoQuant Quicktake post. In the chart, the data of the Bitcoin Taker Buy Sell Ratio is shown. This metric measures the ratio between the taker buy and taker sell volumes for a given platform. Here, the exchange involved is Bybit. Related Reading: Bitcoin STHs Capitulate: 14,700 BTC Moved To Exchanges At Loss It would appear that the indicator has recently seen a sharp spike above the 1 mark, a sign that long volume has started to sharply outpace the short one. According to the quant, spikes in the metric on Bybit have often preceded a surge in the BTC price. BTC Price Following the recovery run over the last 24 hours, Bitcoin has returned to the $105,100 mark. Featured image from Dall-E, CryptoQuant.com, CoinGlass.com, chart from TradingView.com
Data shows the cryptocurrency sector has seen a large amount of liquidations following the volatility that Bitcoin and others have gone through in the past day. Bitcoin Has Seen A Rollercoaster Over The Last 24 Hours The past day has been a wild time for Bitcoin and the cryptocurrency market as a whole as prices have displayed some notable volatility. BTC, especially, has gone through quite the rollercoaster, with its price seeing swings in both the up and down direction. Related Reading: Bitcoin RSI Dips Below 30—Is A New All-Time High Next? Below is a chart that shows how the recent price action has looked for the number one digital asset. As is visible in the graph, the Bitcoin price first went down to a low of $100,400 from a high around $105,800 and then witnessed a recovery run back to $104,100. The coin is still overall down during the past day, but its loss stands at less than 2%. The other cryptocurrencies haven’t been so lucky, as their prices haven’t quite retraced to the same degree. Ethereum is still down almost 6% and Dogecoin about 7%. The volatile storm in the sector has come following a public feud between US President Donald Trump and Tesla founder Elon Musk. The spat began when the former said in an Oval Office meeting that he was ‘disappointed’ in the latter over his criticism of the One Big Beautiful Bill Act. Musk had previously called the bill a ‘disgusting abomination.’ The two let sparks fly on social media, with the SpaceX founder even accusing the President of being in the Epstein files. “That is the real reason they have not been made public,” said Musk in an X post. Crypto Liquidations Have Neared A Billion With all the volatility that has gripped Bitcoin and company during the past day, it’s only to be expected that the derivatives market would feel the impact. According to data from CoinGlass, a mass amount of liquidations have piled up on the various centralized exchanges. “Liquidation” here naturally refers to the forceful closure that any open contract has to go through if it amasses losses of a certain percentage. As displayed in the table, the cryptocurrency market has seen liquidations amounting to a whopping $970 million over the last 24 hours. Out of these, a staggering $854 million, representing 88% of the total, came from the long investors alone. This is naturally down to the fact that prices as a whole have gone down during this window. Related Reading: Solana’s Old Hands Are Moving—Is Trouble Brewing? Like usual, Bitcoin and Ethereum have led the sector in liquidations, contributing $346 million and $286 million, respectively. A mass liquidation event is popularly known as a ‘squeeze.’ Considering that the longs have made up for an overwhelming majority of the latest event, it could be termed a long squeeze. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
Analysts said the public dispute between U.S. President Trump and Elon Musk hit the already fragile and over-leveraged market.
Data shows a large number of long liquidations have occurred in the cryptocurrency market as Bitcoin and other assets have plunged. Crypto Liquidations Have Surpassed $712 Million Over The Past Day According to data from CoinGlass, chaos has occurred on the derivatives market following the volatility Bitcoin and the company have gone through during the last 24 hours. Related Reading: Bitcoin MVRV Ratio Signals Price Hot, But Not In Danger Zone Yet Below is a table that shows how the liquidations have looked for the cryptocurrency sector within this window. As is visible, almost $712 million in cryptocurrency contracts have seen forceful closure from their platform in the past day. About $477 million of these came during the last twelve hours alone. Bitcoin and the altcoins, especially, have seen a decline in this period, so it’s not surprising to see that the liquidations have overwhelmingly affected the long investors. More specifically, the holders betting on a bullish outcome have been involved in more than 90% of the flush. A mass liquidation event like this latest one is popularly known as a squeeze, and given the sharp imbalance toward the bulls, this particular event would be called a long squeeze. During a squeeze, a large amount of liquidations get triggered at once and feed back into the move that caused them. This unleashes a cascade of further liquidations, making such events quite volatile. As for which of the individual tokens contributed the most to the long squeeze, the heatmap below shows it. Bitcoin and Ethereum, the top two cryptocurrencies in terms of market cap, have also come out on top in this list, with the former observing liquidations of $221 million and the latter that of $116 million. The third-ranked coin, however, hasn’t been XRP, but rather Solana, which is a couple of spots lower in terms of market cap. SOL’s $32 million in liquidations may be down to the fact that it has seen a larger decline than XRP. While Bitcoin has seen a push down during the past day, its downfall actually started much earlier, with the high around $112,000 from May 22nd acting as the top so far. According to a report from the on-chain analytics firm Santiment, this peak coincided with a spike in whale activity. The indicator displayed in the chart is the “Whale Transaction Count,” which tells us about how many whale-sized transfers are occurring on the BTC network every day. Related Reading: Toncoin Open Interest Spikes 33%—Will History Repeat With A Pullback? It would appear that both versions of this metric (tracking transactions valued at more than $100,000 and $1 million) surged to a high level earlier in this month, a potential sign that profit-taking from these humongous entities forced Bitcoin toward a top. Bitcoin Price BTC saw a dip under the $105,000 level earlier in the day, but it appears the coin has since observed a small rebound as it’s now back at $105,800. Featured image from Dall-E, Santiment.net, CoinGlass.com, chart from TradingView.com
Bitcon and ETH propelled crypto markets to almost $3.4 trillion for the first time since February after macro news and Pectra's upgrade fueled optimism.
Traders rushed to protect leveraged bets on protocols like Sky as ether dropped to FTX-bear market levels and macro factors weighed heavy on crypto markets.
Data shows the cryptocurrency market has witnessed massive liquidations during the past day following the recovery Bitcoin and the altcoins have made. Bitcoin & Altcoins Have Jumped Back Following Trump’s Announcement Bitcoin and the rest of the cryptocurrency sector ended February on a very bearish note, as the market went through a deep drawdown that took BTC to as low as $78,000. In a flash, however, the digital assets have seen their fates flip during the past day. Related Reading: Solana Now Retesting Realized Price: Will Shift To Bear Market Happen? The impetus behind the recovery move has been Donald Trump’s announcement of a Crypto Strategic Reserve that includes Bitcoin, Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA). The announcement came through the president’s official Truth Social handle. In the initial post, Trump only mentioned the altcoins XRP, SOL, and ADA, but in a follow-up post, he also confirmed BTC and ETH, saying they will be “the heart of the Reserve.” Since the US elections, the Crypto Reserve has been something much-anticipated in cryptocurrency circles, so it’s not surprising that the news has been able to have a drastic effect on trader mood. From the graph, it’s visible that Bitcoin approached the $95,000 level during the surge, but its price has since witnessed a small pullback to $92,800. Ethereum has displayed a similar pattern, although its retrace from $2,550 to $2,360 has been notably larger than BTC’s. Overall, the top two cryptocurrencies are up 8% and 6% during the last 24 hours, respectively. Interestingly, XRP, SOL, and ADA, the three coins initially announced, have shown much stronger rallies of 17%, 13%, and 48%, respectively. The bullish momentum hasn’t been restricted to just these five included in the Reserve, as coins across the space have observed some degree of rise. A consequence of all this volatility has been that liquidations have piled up on derivatives platforms. Crypto Derivatives Market Has Just Seen $971 Million In Liquidations According to data from CoinGlass, a total of $971 million in cryptocurrency derivatives contracts have found liquidation in the past day. “Liquidation” here refers to the forceful closure any open contract undergoes after it has amassed losses of a certain degree. Below is a table that breaks down the relevant numbers related to the latest mass liquidation event. As is visible above, around $558 million of these liquidations involved the short investors, representing over 57% of the total. These traders making up for the majority of the event is naturally expected, as the market has gone up inside this window. Though, despite the bullish action, around $412 million in long holders still got liquidated as a result of the pullback. Related Reading: Bitcoin Whales Buying The Dip: $1.28 Billion Added Below $90,000 In terms of the individual symbols, Bitcoin and Ethereum have predictably come out on top with $353 million and $182 million in liquidations, respectively. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
Data shows that the cryptocurrency derivatives sector has seen a high amount of liquidation during the past day as Ethereum and other altcoins plunged. Altcoins Have Just Witnessed Massive Long Liquidations According to data from CoinGlass, liquidations have piled up on the cryptocurrency futures market in the last 24 hours. “Liquidation” here refers to the forceful closure that any open contract undergoes after it has accumulated losses of a certain degree. Related Reading: Is It Time To Buy XRP? TD Sequential Says Yes When a large amount of liquidations occur at once, the event is popularly known as a squeeze. The chances of a squeeze taking place come down to two factors. The first is naturally the volatility, as a larger swing in the price would mean a wider span of contracts gets pushed into the red. The other factor is leverage, a loan amount that derivatives market traders can opt to take against their initial collateral. Leverage is often many times the position itself, so the benefit of having it is that any profits earned are multiplied by the same factor. But as this also applies to losses, it’s easier to get liquidated with leverage if the bet doesn’t work out. In the cryptocurrency sector, assets can often be volatile and positions tend to be overleveraged, so a squeeze can occur from time to time. During the past day, the market has once again seen a surge in volatility, which has led to yet another liquidation squeeze. Here is a table that breaks down the relevant numbers related to this event: As is visible above, the cryptocurrency derivatives sector has registered a total of $268 million in liquidations during the last 24 hours. Out of these, $217 million of the positions involved were bullish bets. The long contract holders taking the brunt of the liquidations is naturally down to the fact that the altcoins have gone through a price crash inside this window. Now, here is a heatmap that displays how the contribution to the squeeze has looked from the individual assets: Generally, Bitcoin (BTC) tops this list, but it would appear that the number one cryptocurrency has failed to make even the top two this time around. This is due to the fact that the coin has seen relatively flat movement during this crash of the altcoins. Related Reading: Dogecoin Open Interest Plunges 58%: How Do Shiba Inu & Pepe Compare? Ethereum (ETH), the largest among the altcoins, has provided the largest share of liquidations at $56 million. Solana (SOL), which has faced the worst decline among the top 10 digital assets of 6%, has come second at $33 million. ETH Price Ethereum made some recovery during the weekend, but it seems the coin has already retraced those gains to start the new week as its price has gone down 4%, dropping to $2,700. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
Investors fear that the 'trade war' would fuel inflation and cause interest rates to stay higher for a longer period, according to analysts.
Data shows the cryptocurrency derivatives sector has seen a large amount of liquidations in the past day as Bitcoin and others have enjoyed a rally. Both Crypto Long & Short Liquidations Have Been High Today According to data from CoinGlass, a significant amount of liquidations have piled up on the derivatives side of the cryptocurrency sector following the market volatility. “Liquidation” here refers to the forceful closure that any open contract undergoes after it has amassed losses of a certain degree (the exact percentage of which may differ between platforms). Related Reading: Litecoin (LTC) Jumps 19%: What’s Behind The Rally? Below is a table that shows the data for the liquidations that have occurred in the cryptocurrency sector during the last 24 hours. As is visible, liquidations have totaled at almost $306 million in this window. Out of these, $154 million of the contracts involved were long positions, while $151 million were short ones. This remarkably even split suggests no side of the market was affected more than the other, which is interesting considering the context that Bitcoin and others coins have seen their prices rise during the past day. It would appear that the traders have been eager to place bullish positions with a high amount of leverage attached in this recovery rally, which is leading to any pullbacks on the way up catching them out and adding to the long liquidations counter. In terms of the contribution to the derivatives flush by the individual symbols, Bitcoin has once again come out on top with just under $98 million in liquidations. Ethereum (ETH) and XRP (XRP) have rounded out the top three with $37 million and $25 million in liquidations, respectively. This top three also happens to be the top three coins in the market cap list. Number four in liquidations doesn’t match up against the market cap ranking, however, as it’s in fact Dogecoin (DOGE) that has followed XRP with almost $16 million in contracts. The high contribution to the squeeze by the memecoin could be down to the fact that its popularity means speculators get driven to it more than larger altcoins like Solana (SOL). In some other news, the Bitcoin Open Interest has gone down relative to the market cap recently, as analyst James Van Straten has pointed out in an X post. The “Open Interest” refers to a measure of the total amount of Bitcoin-related derivatives positions that are currently open on all centralized exchanges. A high amount of speculative activity generally leads to volatility for the asset, so this metric’s ratio with the market cap should ideally stay low. Related Reading: XRP Surges Past $3.2 As Whale Activity Spikes 81% From the graph, it’s apparent that the ratio shot up to a high of 2.8% in November, but its value as since cooled off to about 2.4%, a healthier level. Bitcoin Price Bitcoin’s latest recovery push has seen a continuation during the past day as its price has reached the $104,000 mark. Featured image from Dall-E, Glassnode.com, CoinGlass.com, chart from TradingView.com
Data shows the cryptocurrency derivatives market has suffered a high amount of liquidations in the past day as Bitcoin and other assets have crashed. Bitcoin, Ethereum Saw Notable Plunges During Past Day The last 24 hours have been red for digital assets, with a bulk of the market observing a drawdown of more than 5%. Bitcoin has been no exception, as its price has slipped under the $95,000 level. It was only a couple of days back that the asset had shown a sharp recovery above the $102,000 mark. The steep crash since then would suggest the investors didn’t believe the rally would have legs, so they decided to take their profits while they could. Related Reading: Less Than 1% Of Bitcoin Investors In Loss After BTC Reclaims $100,000 Ethereum, the second largest cryptocurrency by market cap, has had it even worse than Bitcoin, with its price coming down to $3,350 after a drop of almost 8% during the past day. With its plunge, Ethereum has basically retraced all the bullish momentum that had come with this new year of 2025. Bitcoin still retains some of its gains, but if the current trajectory continues, it wouldn’t be long before it meets the same fate as well. With all the carnage that the digital asset sector has seen, it would be expected that the derivatives side of the market would likewise have gone through some chaos. Crypto Longs Have Just Taken A Massive Beating According to data from CoinGlass, a mass amount of liquidations have piled up on derivatives exchanges during the past day. “Liquidation” refers to the forceful closure that any open contract undergoes after it has amassed losses of a certain degree (the exact percentage of which may differ between platforms). Below is a table that breaks down the relevant numbers related to the latest cryptocurrency liquidations. As is visible, a total of $689 million in contracts have been flushed in the last 24 hours. Out of these, over $609 million of the positions involved were long ones. This means an overwhelming 88% of the liquidations affected the traders betting on a bullish outcome for the market. Given the crash that the cryptocurrency sector has gone through during this window, it’s not exactly a surprise to see this disparity between long and short liquidations. Related Reading: Bitcoin Signal That Took Price From $69,000 To $108,000 Appears Again In terms of the contributions to the squeeze by the individual symbols, Bitcoin has interestingly not topped the charts this time around. Instead, Ethereum has been king with almost $152 million in liquidations. The fact that Ethereum’s drawdown has been more significant than Bitcoin’s has part to play in this, but it may not be the full story. It’s possible that the trend is an indication that the speculative interest around ETH has been particularly pronounced recently. Featured image from Dall-E, CoinGlass.com, charts from TradingView.com
Data shows a large amount of liquidations have piled up on cryptocurrency exchanges during the past day as Bitcoin and the altcoins have crashed. Bitcoin & Other Assets Have Witnessed Bearish Action In Last 24 Hours The past day has been a volatile time for the cryptocurrency sector as the US Federal Reserve has revealed […]
Data shows the cryptocurrency derivatives market has suffered a lot of liquidations as Bitcoin has gone through volatility in the past day. Bitcoin Has Gone Through A Bit Of A Rollercoaster Over The Last 24 Hours Bitcoin has seen some wild price action over the past day in which it has not only set a […]
About $180 million in short positions have been wiped as Bitcoin hit another new all-time high of $81,358.
Data shows the cryptocurrency derivatives market has suffered a large amount of liquidations following Bitcoin’s rally to its new all-time high (ATH). Bitcoin Has Set A New Record Above $75,000 Today The moment Bitcoin investors have been waiting for these past few months has finally happened, as the number one cryptocurrency has set a brand […]
Bitcoin (BTC) has had a volatile 24 hours, hitting as low as $68,830 on the Binance crypto exchange before recovering some losses. Liquidation Data At A Glance Although BTC is trading close to its all-time high (ATH) value of $73,737, yesterday’s quick drop in price cast doubts on whether the top digital asset will be able to record a new ATH. Related Reading: Bitcoin Makes ATH Against Euro Due To Change In Dollar Strength, Details Inside According to CoinGlass data from the crypto liquidations tracker, more than $296 million of active positions were liquidated in the last 24 hours. Nearly 77% were long positions, indicating that traders were largely betting on BTC’s continued upward momentum. Binance saw the most liquidations at $124 million, followed by OKX with $74 million and Bybit with $65 million. In digital assets, Bitcoin led with over $97 million worth of positions liquidated, followed by Ethereum (ETH) at $47 million, and Solana at nearly $17 million. With yesterday’s slump, the total crypto market cap has shrunk by about 3.5%, currently valued at $2.48 trillion. It is worth noting that although BTC is close to its ATH, the total crypto market cap is still considerably far from its ATH of $2.98 trillion recorded in November 2021. The gap between BTC’s performance and the overall market cap suggests that altcoins have not kept pace with BTC’s recent gains, contributing to the disparity. This could also indicate a cautious investor sentiment, favoring BTC over altcoins during uncertain periods. At the same time, it suggests that there is still a lot of room for altcoins to grow, which could tempt some more risk-seeking investors to accumulate altcoins in hopes of extraordinary gains relative to BTC. That said, Bitcoin dominance – a metric that gauges the proportion of the overall crypto market cap commanded by BTC – is steadily climbing toward 60%. A higher BTC dominance could spell disaster for altcoins already trailing BTC in price action. Can Bitcoin Still Hit ATH? The question on the minds of crypto enthusiasts is whether BTC will achieve a new ATH during this rally. The answer is not straightforward. Related Reading: Bitcoin’s Active Addresses Signals Golden Cross—What Next For BTC? Factors supporting a potential new ATH include the increased likelihood of pro-crypto US presidential candidate Donald Trump winning the election, the effects of BTC halving, increased inflows to BTC exchange-traded funds (ETF), and a low interest rate environment. On the contrary, sentiment indicators like the Fear and Greed Index suggest the market is still in a ‘greed’ phase, hinting that there could be more pain for the market before the next leg up. Regardless of the outcome, the crypto market will likely remain volatile in the coming days. However, long-term BTC holders do not appear fazed by this prospect, as profit-taking remained relatively muted when the digital asset crossed $71,000. At press time, BTC trades at $71,524, up a modest 0.6% in the past 24 hours, with a reported market cap of $1.41 trillion. Featured image from Unsplash, Charts from CoinGecko, CoinGlass, and Tradingview.com
Data shows the cryptocurrency derivatives market has suffered a high amount of liquidations as the Bitcoin price has breached $71,000. Crypto Derivatives Has Seen $223 Million In Liquidations During Last 24 Hours According to data from CoinGlass, liquidations have piled up on the cryptocurrency derivatives market over the past day. “Liquidation” here refers to the […]
Data shows the crypto derivatives market has suffered a lot of liquidations in the past day as Bitcoin and others have plummeted. Bitcoin Has Declined More Than 3% In The Last 24 Hours Bitcoin has continued its recent bearish momentum in the past day as its price has observed a further plunge, coming down to the $56,600 level. The chart below shows what the asset’s latest performance has looked like. During this plunge, Bitcoin briefly went down to the $55,600 level for the first time since the first-third of August. Despite the coin’s rebound, its price has been down more than 3% over the last 24 hours. Related Reading: Bitcoin Investors Beware: MVRV Has Given Bear Market Signal The rest of the crypto market has also not been spared, with the altcoins seeing similar or worse returns than the original digital asset. Given this latest market volatility, it would be expected that the derivatives side would have seen a shakeup. Crypto Derivatives Market Has Just Witnessed High Liquidations According to data from CoinGlass, the crypto derivatives market has registered a high amount of liquidations in the last 24 hours. A contract is said to be “liquidated” when its exchange has to forcibly shut it down due to it amassing losses of a certain degree (the exact percentage of which may differ between platforms). Below is a table that breaks down the latest liquidation data for the sector. As is visible, the crypto derivatives market has seen $200 million in liquidations during the past day. Almost $170 million of the flush involved the long side, representing 85% of the total. The liquidations being so lopsided towards these investors betting on a bullish outcome is naturally because the sector as a whole has plunged in this window. Bitcoin has topped the charts regarding the individual share of the liquidations, with $55 million in contracts related to the coin taking a beating. Ethereum (ETH), the second largest crypto by market cap, hasn’t been far, though, as it has seen over $50 million in liquidations. Solana (SOL) has seen the most liquidations at under $13 million. Related Reading: Bitcoin Could Drop To $40,600 If This Happens, Crypto Analyst Says The Bitcoin Open Interest, a measure of the number of positions related to the currently open asset, has seen a cooldown alongside this mass liquidation event, suggesting new speculators haven’t jumped in just yet. This trend could suggest that the market may have seen a healthy reset, leading to more stability for the asset’s price. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
Data shows the cryptocurrency derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to $52,000. Bitcoin Has Plunged By More Than 15% During The Last 24 Hours Bitcoin investors have been dealt a shock to open Monday, with the cryptocurrency having crashed by more than 15%, which has taken its price to the $51,500 mark. Related Reading: Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis The below chart shows how the recent trajectory has looked like for the asset: From the graph, it’s visible that the latest sharp plunge in the BTC price is just an acceleration of the trend that the asset had already been witnessing since the last couple of days of July. On the 29th, the cryptocurrency was floating around the $70,000 mark, meaning that it had come down by more than 26% in only a week. Following this drawdown, Bitcoin is now back to the same level as that just before the late February rally, which went on to culminate in a new price all-time high (ATH). While BTC has had it bad during the past day, altcoins have in general had it even worse. Ethereum (ETH), BNB (BNB), and Solana (SOL), the three largest coins next to the original (excluding the stablecoin Tether), have all seen higher losses of 23%, 19%, and 21%, respectively. With prices across the sector crashing down, it’s not surprising to see that long investors have taken a heavy blow over on the derivatives side of the market. Crypto Liquidations Have Crossed $1 Billion, Majority Are Long Contracts The latest volatility in the various assets has meant the derivatives market has gone through chaos over the past 24 hours, as the data from CoinGlass below shows. As is visible in the table, a whopping $1.1 billion in cryptocurrency derivatives contracts have found liquidation in this period. “Liquidation” here naturally refers to the process any contract undergoes after amassing losses of a certain degree, where its platform forcibly closes it up. An extreme majority of these liquidations, around 85% to be more precise, involved the long holders. This is a natural consequence of the market as a whole going through a crash. Interestingly, though, despite the sharp plummet, $173 million in shorts still managed to get liquidated, which isn’t really a small amount. Thus, it would appear that a large amount of investors only put their bearish bets in when the crash was already finished. Related Reading: Bitcoin Price Plunge Deepens: What Could Prevent a Recovery? In terms of the individual symbols, Bitcoin and Ethereum have contributed to the mass liquidation event by nearly the same degrees, witnessing liquidations of $367 million and $350 million, respectively. Clearly, BTC is still ahead, but by only a small amount, which is not usually the case. The reason behind ETH’s high liquidations may be the fact that the recent launch of the spot exchange-traded funds (ETFs) had put more attention on the second largest coin by market cap. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
Over the past few days, Bitcoin has seen quite a notable rebound in its price, rising from as low as the $53,000 level last week to trading as high as above $66,000 in the early hours of Wednesday before now retracing to a current trading price of $64,433. This bullish price performance has been the downfall of approximately 50,436 traders in the crypto market today. Particularly, according to data from Coinglass, this number of traders has seen massive liquidations, bringing the current total liquidations to $145.58 million. Bitcoin traders felt the brunt of this total liquidation, seeing roughly $46.22 million shared evenly between short and long positions, indicating the asset’s mixed trajectory in the past day alone. Related Reading: Bitcoin Dominates as Crypto Funds Attract $1.44 Billion in Fresh Capital, Rally To Begin? Bitcoin: Bigger Liquidations Incoming While recent trading activities have triggered millions of dollars in liquidations, further data shows that this scenario could escalate dramatically, turning into billions if Bitcoin continues its ascent towards record highs, breaching a notable mark. Particularly, as reported by MartyParty, a prominent crypto enthusiast in the community, should Bitcoin’s price hit $72,400, the market would feel the impact, with nearly $19 billion in Bitcoin short positions poised for liquidation at this price point. Marty Party reported this on Elon Musk’s social media platform X, citing data from Coinglass. Concluding this disclosure, the crypto enthusiast noted: “Never bet against technology.” How Long For This Liquidation To Occur? While the $72,400 price mark might seem like a long stretch from the current market price, BTC might not take that long to get to this mark, given the current fundamentals. For instance, the market might be drawn quicker to this mark as this is where the liquidity lies to fuel its current trend. Aside from that, no bears are in sight to slow the asset’s rally from getting there in the short term. First of all, the German government has sold off all of its BTC holdings of roughly 49,858 BTC with a current balance below $500, according to data from Arkham Intelligence. Notably, the current balance of approximately $427 worth of BTC is the cumulative sats (small units of BTC) donated from different wallet addresses. Furthermore, according to recent data from CryptoQuant, 36% of Mt. Gox BTC has been distributed to creditors. However, despite this distribution, BTC’s price is yet to see any notable correction, which suggests two things: that the creditors are not selling, and even if they are, the Bitcoin market is absorbing it real quickly as evident in the slight stabilization of BTC’s price. Related Reading: Bitcoin Price On The Rise: Is The $70K Mark Within Reach? These major sell-offs by the German government and Mt. Gox, once considered major threats to the crypto market, now seem to have minimal impact, indicating that no significant bearish obstacles prevent Bitcoin from surging to the $72,400 mark, creating a short squeeze. Featured image created with DALL-E, Chart from TradingView
Data shows the cryptocurrency derivatives market has seen a huge amount of liquidations in the past day as Bitcoin has crashed under $58,000. Bitcoin Has Registered A Plunge Of More Than 4% In The Past 24 Hours After a bearish June, investors were hoping this new month of July would bring about a turnaround for […]
Data shows the cryptocurrency derivatives market has suffered a high amount of liquidations in the past day after the crash the altcoins have seen. Altcoin Longs Witness Squeeze, Ethereum Leads In Liquidations The past day has been a volatile time for the cryptocurrency market, with the majority of the altcoins suffering from drops of more […]
Data shows that around $533 million in crypto long contracts have been flushed down as Bitcoin crashed below the $63,000 level. Bitcoin Has Continued Its Recent Downtrend During The Past Day Since setting a new all-time high (ATH) above the $73,800 mark, Bitcoin’s fates have changed as the digital asset has switched to experiencing bearish […]
Data shows over $668 million in cryptocurrency long contracts have been squeezed following Bitcoin’s crash under the $68,000 level. Bitcoin Has Registered A Drop Of 7% In The Last 24 Hours Right after setting a fresh all-time high (ATH) not too far from the $74,000 level, the Bitcoin price has reversed its trajectory sharply during […]