Crypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000

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%, [...]

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Bitcoin Bears Crushed: $100M In Crypto Shorts See Flush As BTC Breaks $63,000

Data shows the cryptocurrency derivatives market has registered significant liquidations after the Bitcoin rally above the $63,000 mark. Bitcoin Rally Has Resulted In Short Liquidations On Derivatives Market According to data from CoinGlass, the latest volatility in the cryptocurrency market has led to large liquidations on the derivatives side. “Liquidation” here naturally refers to the process that any open contract undergoes where its platform forcibly closes it off after it has amassed losses of a certain degree. Related Reading: Bitcoin Recovery Stalls As HODLers Apply Selling Pressure The table below shows how the derivatives liquidations have looked during the last 24 hours: It would appear that the cryptocurrency derivatives market has registered total liquidations of $126 million in the past day. Out of these, almost $101 million of the contracts were short ones. This figure is equivalent to more than 80% of the total, implying that these investors betting on a bearish outcome for the market were the most heavily affected by the latest volatility. This naturally makes sense, as assets across the sector have seen green returns in this window, led by Bitcoin’s rally. A mass liquidation event like this latest one is popularly called a “squeeze“, and as shorts were the side that contributed to a majority of these liquidations, the squeeze would be known as a “short squeeze.” During a squeeze, liquidations end up feeding further into the price move that caused them, thus unleashing a cascade of further liquidations. As such, the sharp price surge in the past day would in part be fueled by the short squeeze. Related Reading: Bitcoin Crash Forced Weak Hands Into Largest Loss-Taking Since 2022 Lows: Report As for the breakdown of this latest squeeze for the various symbols, it would seem like Bitcoin has come out on top like usual with around $45 million in liquidations. Ethereum (ETH) and Solana (SOL) have made up the rest of the top three with $24 million and $8 million in liquidations, respectively. Interestingly, while most of the sector has seen the dominance of short liquidations, XRP (XRP) on fourth has seen longs edge out instead. This may be down to the fact that the coin has overall only moved sideways while the rest have rallied. BTC Has Managed To Reclaim The $62,000 Support Level With the latest rally, Bitcoin has been able to make some significant recovery, with its price even briefly surging above the $63,000 level earlier in the day. The chart below shows what the coin’s surge has looked like: According to data from the market intelligence platform IntoTheBlock, Bitcoin is now floating above the significant on-chain support level of $62,000. “While resistance is strong above, enough bullish momentum can prevent selling pressure,” notes the analytics firm. Featured image from Dall-E, CoinGlass.com, IntoTheBlock.com, chart from TradingView.com

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Crypto platform Yield App shuts down citing FTX losses

Yield App halts operations, citing losses from FTX exposure, despite previous assurances of no significant impact.

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Bitcoin Crash To $61,000 Drives 24-Hour Crypto Liquidations Toward $300 Million

Early on Monday morning, the Bitcoin price crashed another 5% to drop to the $61,000 level. This drop, which was very sudden, has taken investors by surprise, triggering a massive wave of liquidations. As the volume continues to rise, the crypto liquidation figures have barreled toward $300 million in just 24 hours alone. 91,000 Crypto Traders Lose $282 Million Amid Bitcoin Crash Data from Coinglass has shown that tens of thousands of crypto traders have lost their leverage positions in the last day, leading to hundreds of millions of dollars in liquidations. This comes with the decline in the crypto market, spurred on by the Bitcoin crash. Related Reading: Polygon (MATIC) Turns Bullish After Losing Streak Is A 1,000% Rally Possible From Here? So far, the number of traders who have lost their positions has crossed 91,000, and a little over $282 million has been lost since then. With the Bitcoin and crypto market crash, the majority of these liquidations have come from long traders, with an overwhelming 91.59%. As expected, Bitcoin has seen the largest liquidation volumes with $103 million. Ethereum follows in second place with $64 million, while Solana comes in third place with $13 million. Liquidations from others have also crossed $38 million during this time. Binance accounts for around 35% of total liquidations with $102.9 million, while the OKX exchange has recorded $82 million in liquidations. Huobi, Bybit, and Bitmex are in 3rd, 4th, and 5th positions with $47.72 million, $21.33 million, and $15.15 million, respectively. While the largest single liquidation order took place on the Bitmex exchange, where a trader lost $10 million on the XBTUSDT pair. At the time of writing, the majority of the liquidation had taken place in the last 12 hours alone, making up $230 million out of the recorded $282 million. Meanwhile, in the last hour, the liquidation volumes have crossed $102.5 million. Despite the notable liquidation volumes, the last 24 hours are still not the worst day for the month of June. Since June has been riddled with crashes, there have been notable liquidation trends for the month. For example, on June 7, liquidation volumes reached $360 million when the Bitcoin price crashed from $71,000 to $68,000. Related Reading: Little-Known But Important Dogecoin Indicator Goes Off, How High Can It Drive Price? Then again, on June 18, 24-hour liquidation volumes crossed $300 million when the Bitcoin price fell from $67,000 to $64,000. If the Bitcoin price continues to fall, then these liquidation volumes could continue to climb quickly and reaching $300 million could only be a matter of when and not if. The Bitcoin price is currently struggling to hold $61,000, with an approximately 5% decline in the last 24 hours. If bulls fail to hold this support level, the possibility of the price falling to the $50,000 territory becomes much higher. Featured image created with Dall.E, chart from Tradingview.com

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Crypto Market Liquidations Top $330 Million In 24 Hours With Ethereum In The Lead

As the Bitcoin and Ethereum prices hav barreled toward a new all-time high, short-term traders have been suffering the brunt of the liquidations. In the last day alone, over $330 million was liquidated from the crypto market and the majority of this has been from short traders who expect prices to fall once again. Over 78,000 Traders Liquidated For $330 Million Coinglass data shows that the last 24 hours have been brutal for crypto traders. In this short time, more than 78,000 crypto traders have seen their positions liquidated, leading to hundreds of millions of dollars in losses. Related Reading: Bitcoin Retail Investors Are Dumping Amid Jump To $67,000, Why This Is Good For Price In total, there have been $330 million in liquidations. Out of this figure, 81.42% were positions belonging to short traders, meaning they made up $268.76 million of the total figure. Long traders only made up $61.31 million in the liquidations. Contrary to the established trend, Bitcoin did not lead liquidations this time around, instead falling behind Ethereum. This is understandable as the Ethereum price had risen over 20% in the 24-hour period, whereas the Bitcoin price maintained gains of around 6%. Ethereum liquidations accounted for around 32% of the total figure, coming out to $105.13 million at the time of writing. The largest single liquidation event also happened on an ETH-USDT pair on the Huobi exchange, costing the trader $3.11 million. In constrast, Bitcoin liquidations came out to $96.53 million, but just like Ethereum, the figure was made up by a majority of short traders. Following behind Bitcoin is Solana with liquidations of $21.53 million. Other coins which saw substantial liquidations include Dogecoin with $7.42 million and PEPE with $4.3 million. Bitcoin And Ethereum Lead Market Rally The market rally that has shaken the market in the last day has mostly been led by Ethereum, with Bitcoin throwing in support. The United States Securities and Exchange Commission (SEC) asked exchanges to update their 19b-4 filings, which are important to any Spot ETFs being approved. Related Reading: Crypto Analyst Sounds Warning Alarm For Potential 50-60% Crash In Chainlink Price, Heres Why Given this, the market sentiment had picked up as the expectation for the approval of Spot Ethereum ETFs spread. During this time, Bloomberg analysts James Seyffart and Eric Balchunas also reviewed their approval odds for the funds, taking it from a low 25% to a high 75%. During this time, the price of Ethereum went from trending around $3,100 to rising above $3,700. At the same time, the Bitcoin price jumped above $71,000, triggering one of the best days for the crypto market so far in 2024. Featured image from Dall.E, chart from Tradingview.com

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Bitcoin, Altcoins Price Decline As Crypto Liquidations Near $900 Million In The Past Day

The crypto market took an unexpected hit on April 12 as a spontaneous decline in the price of Bitcoin and prominent altcoins resulted in massive liquidations. The origin of this widespread price dip remains largely unknown, among a plethora of plausible reasons, including a recent price correction in the US stock markets. Related Reading: Will The Halving Send Bitcoin Price To $100,000? Analytics Platform Reveals What You Should Expect Almost $500 Million Liquidated In An Hour Amidst Crypto Flash Crash According to data from CoinMarketCap, Bitcoin slipped by 4.49% in the last day, falling as low as $66,052. As expected, BTCs decline reverberated through the market, with prominent altcoins Ethereum and Solana recording daily losses to the tune of 8.12% and 12.16%, respectively As earlier stated, these losses translated into 277,843 traders losing their leverage positions as total crypto liquidations reached $877.21 million in the last 24 hours based on data from Coinglass. Of these figures, long positions accounted for $782.98 million, with short traders losing only $94.24 million. Notably, $467 million in leverage positions were closed within an hour as a result of a general price decline. The highest amount of liquidations at $369.85 million was recorded on Binance, while the single largest liquidation order valued at $7.19 million occurred in the ETH-USD market on the OKX exchange. Source: Coinglass Interestingly, Bitcoins price decline correlated with a dip in the US stock market as the S&P 500 index declined by 1.6% to trade as low as $5,108. This market crash was preceded by recent CPI data, which showed that the inflation rate rose to 3.5% year over year in March. Such reports only indicate that the US Federal Reserve (Fed) could not be implementing any rate cuts soon as it aims to force inflation down to its annual target of 2%. This prediction is quite bearish for the crypto market generally as Fed rate cuts allow investors to comfortably seek risky assets such as BTC with a potential of high yields. Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment Down? Bitcoin Experiences Network Growth As Halving Approaches  On a more positive note, Bitcoin has recorded a rise in non-empty wallets on its network ahead of the Halving event on April 19. Blockchain analytics platform Santiment reported an increase of 370,000 BTC wallets holding active coins over the last six days. Interestingly, the analytic team is backing investors to maintain this accumulative trend all through the Bitcoin halving event. At the time of writing, Bitcoin was trading at $66,882, with a 44.80% increase in its daily trading volume, which is currently valued at $43.80 billion. However, Bitcoins price has generally been unimpressive in recent times, with a decline of 1.33% and 6.20% in the last seven and 30 days, respectively.  Bitcoin trading at $66,499.00 on the daily chart | Source: BTCUSDT chart on Tradingview.com Featured image from The Independent, chart from Tradingview

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Crypto Liquidations Near $1 Billion As Bitcoin & Altcoins Bounce Back

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

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Bitcoin Rockets Past $69,000: Over 60k traders Caught In $200 Million Total Liquidations

The cryptocurrency market recently witnessed significant liquidations, totaling over $200 million, as Bitcoin surged past the $69,000 mark. The Bitcoin price surge led to many short positions being liquidated, causing notable financial repercussions across various trading platforms. Bitcoins Sudden Rebound And Liquidations The data from Coinglass provide a clearer picture of the impact, showing that [...]

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Bitcoin Brief Bounce Back Above $67,000: Triggers Nearly $300 Million In Total Liquidations

The crypto market has recently experienced a wave of liquidations, amounting to nearly $300 million, closely following Bitcoins sharp reclaim of the $67,000 mark. This surge in Bitcoins value, a stark reversal from its previous downtrend, caught many traders off guard, especially those who had placed bets on the continuation of the markets decline. Over [...]

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Crypto Market Liquidations Reach $830 Million, When Will It Stop Bleeding?

Crypto liquidations across the market have ramped up in the last 24 hours. Digital assets in the space suffered declines in the last day, which has led to hundreds of millions of dollars being wiped from traders. These liquidations span the entire crypto market with hundreds of thousands of traders getting caught in one of the worst liquidation events of 2022. $830 Million Shaved Off Crypto Market In the space of 24 hours, there have been more than $830 million in liquidations recorded across the crypto market. It marks the second-largest liquidation event recorded so far in 2022, only coming out slightly under the October liquidation numbers. Related Reading: Bitcoin’s Decline Below $20,000 Proves The Bottom Is Not In Naturally, given that the price of digital assets across the space has been in decline, long traders have suffered the worst of the liquidations. Over 70% of the liquidation numbers have come from long traders. More than 33% of these volumes were recorded on the Binance crypto exchange with FTX following closely behind at 21.77%. Liquidations cross $830 million | Source: Coinglass A total of 392,043 traders have been liquidated in the one-day period with the largest single liquidation order taking place on the Binance exchange. The trade was placed on the BTCUSDT pair on the exchange and was worth $6.70 million. Total market cap falls to $832 billion | Source: Crypto Total Market Cap on TradingView.com Loss Leaders In 24 Hours In any liquidation event, digital assets such as Bitcoin and Ethereum always lead the pack. However, the decline of the FTX crypto exchange has brought about some strong contenders during this time. The crypto exchange which recorded the second-largest liquidation volumes saw its native token FTT suffer significant losses. Related Reading: Institutional Outflows From Bitcoin Paints Bearish Picture For Crypto Market Over the 24-hour period, there have been 5.75 million FTT tokens liquidated worth $26.6 million. This makes it the token with the fourth-largest liquidation volumes, coming right behind Solana (SOL) which FTX also had exposure. 3.26 million SOL worth $53.66 million had already been liquidated at the time of this publication. Even with almost $1 billion in liquidations already, there doesn’t seem to be an end to the bloodbath just yet. Bitcoin has once again fallen to the $17,000 level, still holding above the previous cycle low of $17,600, but with no support building up. Any wild movements similar to what was experienced on Tuesday could easily bring the liquidation figures up to $1 billion. Featured image from Bitcoinist, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Bitcoin’s Break Above $20,000 Sees Market Liquidations Cross $1 Billion

Tuesday has proven to be a good day for bitcoin and the crypto market in its entirety as gains have been the order of the day. Bitcoin has finally been able to clear the $20,000 territory even when indicators pointed towards the more sluggish movement for the digital asset. As expected, there have been ripple events from the gains in the market. Liquidations are now the order of the day and short traders are getting the ‘short’ end of the stick. Crypto Liquidations Cross $1 Billion The crypto market has now recorded its worse liquidation trend so far in 2022. Bitcoin’s recovery above $20,000 was swift and the liquidations were just as fast. The result of this is more than $1 billion being liquidated across the crypto market in the last 24 hours. Given the recovery, short traders have suffered the worst of it. Data from Coinglass shows that over 87% of all liquidations recorded in the past day have been from short traders. This means that short traders have lost more than $700 million in a single day. Related Reading: Total LUNC Burned Crosses 24 Billion, But Is It Enough? Amid this, FTX exchange recorded the largest liquidation event in history with more than $700 million liquidated on the crypto exchange. This puts the majority of the market liquidations on FTX (74.7%) with all other exchanges making up about 25% of the remaining figure. 24-hour liquidations cross $1.1 billion | Source: Coinglass Approximately 156,000 traders were caught in the crossfire of this bloody trading day. The largest single liquidation was recorded on the Okex – ETH-USDT-SWAP pair for a total of $3.05 million. Total market liquidation values now sit at $1.12 billion at the time of this writing. Bitcoin Gearing Up For More Bitcoin has landed in the mid-$20,000s after the current rally but the digital asset does not seem to be done yet. The recovery put it firmly above its 50-day moving average, which cements its short-term bull trend. Additionally, the correlation with the stock market remains high and bitcoin is bound to follow the performance of its largest counterpart. If the current positive sentiment across the financial market continues, then it is possible that BTC would test the $21,000 resistance before the close of the trading day on Wednesday. BTC price at $20,600 | Source: BTCUSD on TradingView.com High inflation rates across the world are also triggering investors’ move to bitcoin. Forecasts have put countries around the world at even higher inflation rates going into the end of the year, which could paint a bull picture for cryptocurrencies going forward. Related Reading: Crypto Market Drops To Extreme Fear As Bitcoin Struggles To Hold $19,000 BTC is currently trading at $20,600 at the time of this writing. It is up 6.98% in the last 24 hours and has a current market cap of 396 billion. It has also seen $61.7 billion in trading volume, a 136% increase in the last day. Featured image from ITPro Today, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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More Than 253,000 Traders Liquidated As Crypto Bloodbath Continues

The crypto bloodbath has left thousands of traders in a bad way. A rapid decrease in price has seen more than 240,000 traders rekt in the span of 24 hours. As the downtrend continues, more investors are added to the long line of losers, most of which have been long traders. As it stands, there are now almost a billion dollars that have been liquidated in the market so far and this number continues to climb with bitcoin declining below $24,000. Over $940 Million In Crypto Liquidated Over the last 24 hours, the liquidations that have rocked the crypto market have been nothing short of brutal. Most of the liquidations have come from the largest digital assets in the space but Bitcoin has borne the brunt of it once more. The long traders who were hoping for further price recovery had been hit hard in the space. Although the majority of liquidations have been long liquidations, it doesn’t mean that short traders have been spared either. What has occurred has been that as the price fluctuations continue, a lot of traders have been blindsided and had their positions liquidated in a flash.  Related Reading | U.S. Macro Pressure Responsible For Entire Bitcoin Downtrend So far, there have been a little over 253,000 traders liquidated in the past day alone but these numbers are rapidly growing. Data from Coinglass shows that $596.99 million in longs have been liquidated, accounting for 63.25% of all rekt volume. While $346.86 million in shorts have been liquidated, making up the remaining 36.75% of losses. Market cap losses more than $100 billion | Source: Crypto Total Market Cap on TradingView.com Bitcoin, Ethereum, Record Massive Losses As expected, the big players have seen the most losses in the past 24 hours. What is more interesting is the volume of digital assets that have been lost by traders. For bitcoin alone, there have been more than 16.84K BTC liquidated. This comes out to $399.38 million. As for Ethereum, it tells an almost identical story with 298.96K ETH liquidated which totals $356.82 million. Related Reading | Head To Head: Bitcoin, Ethereum Profitability For Investors The smaller altcoins have not been spared from the onslaught either. Solana which has been one of the worst losers when it comes to the market downtrend has seen this translate into liquidations. With the digital asset finally dropping below $30, long liquidations have ramped up, leaving traders losing 699.32K SOL or $18.59 million in the past 24 hours. Other top losers include FLM with $11.99, GMT with $7.86 million, ADA with $7.53 million, and TRX with $5.85 million. Other notable assets also recorded losses to a significant degree with XRP, LUNA, DOGE, and AVAX seeing $5.54 million, $5.19 million, $4.84 million, and $4.72 million in liquidations respectively. Litecoin completed the top 12 with liquidations of $4.60 million. Featured image from Chemistry World, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Short Traders Decimated As Bitcoin Barrels Past $43,000

Bitcoin has surprised the market with its recent surge. The digital asset which has been struggling below $40,000 for the past week made a break for it with an incredible rally that saw its peak above $44,000. It took the market by surprise and no doubt the traders as liquidations have been the order of the day. Short traders have gotten the short end of the stick as they see hundreds of millions liquidated in the past day. Bitcoin Liquidations Run Amok Short traders have been dominating the market for a while now given that the value for the cryptocurrency has been trending low. This was made worse by the Ukraine-Russia crisis. Bitcoin had managed to hold its ground around the $36K-$38K level without slipping too low. Monday would however prove to be a deviation from the norm as the recovery took the market by surprise. Related Reading | Bitcoin Mining More Damaging To The Environment After China Ban, Study Says On Monday, bitcoin had rallied past $44,000 in what can be described as a sharp ascent. Happening over a matter of minutes, short traders were caught unawares by this movement. As such, millions of dollars in short positions were liquidated and $40K price walls across exchanges were all brought down. BTC on another recovery trend | Source: BTCUSD on TradingView.com In total, over $100 million worth of bitcoin positions has been liquidated in the last 24 hours. The last 12 hours account for about 50% of this volume as the price continues to maintain upwards momentum. In total, there has been $147 million worth of BTC liquidations in the past 24 hours. Shorts account for the majority of this figure, although there have been millions in long liquidations, however to a lesser degree. Altcoins Not Left Out Not only has bitcoin recorded large liquidations over the last day, but altcoins have also recorded large liquidation volumes in the same time period.  Naturally, bitcoin has suffered the majority of liquidations but that is expected as it is the most valuable asset in the space. However, this does not mean that altcoins have dodged the onslaught as they have also recorded over $100 million in liquidations. Related Reading | TA: Bitcoin Rallies Over 12%, Why This Could Be Major Trend Change Ethereum leads altcoins in liquidations as $58 million has been recorded over the past day. Same as Bitcoin, shorts have been the major contributors to this number as ETH has also recovered towards $3,000. Crypto liquidations surpass $300 million in 24 hours | Source: Coinglass An unlikely candidate, Luna, has come in third place in terms of liquidations. The native token of the Terra blockchain had seen $14 million in liquidations in the past 24 hours, over $6 million of which were recorded in the last 12 hours alone. The altcoin is up more than 20% in the last day, recording one of the largest increases in the recent rally. Featured image from NationalWorld, charts from Coinglass and TradingView.com

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$200 Million In Crypto Longs Wiped Out As Altcoins Crash To Start Week

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

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Crypto Liquidations Cross $300 Million Amid Massive Market Recovery

The last 24 hours have been more than interesting for crypto investors across the globe. Thursday, July 13, saw one of the most important lawsuits in the history of the industry come to an end, and the ruling in favor of Ripple triggered a massive rally. As digital assets across the space recorded double-digit gains, liquidation volumes climbed quickly, now clocking over $300 million. Crypto Short Traders Take Big Losses The high volumes of crypto liquidations in the market so far have been a result of price recovery. As such, the vast majority of traders who have been losing money have been short traders, that is, traders who were betting on prices falling rather than recovering. Related Reading: Polygon Upgrade Proposal Pushes Price Over 5%, Is It Too Late To Buy? According to data from Coinglass, out of the over $300 million in liquidations, short traders made up for a total of $219 million. On the flip side, the volume from long traders was much lower, coming in at only $82.74 million for the same 24-hour period. This means that short traders made up 70.33% of all liquidations during this time, as long traders made the most money. Furthermore, over 86,000 traders saw their positions liquidated on the last day, but the single largest liquidation happened on the Bitmex exchange. This position was worth $2.82 million at the time of liquidation, taking place across the XRPUSD pair on the exchange. Liquidations cross $300 million in 24 hours | Source: Coinglass As expected, Bitcoin led the liquidation volumes during this time, but interestingly, Ethereum was not the second-highest volume as it usually is. That title was claimed by XRP traders this time around with a total of $62.17 million liquidated in 24 hours. Will The Liquidations Continue? A major factor behind the liquidations was the wild price fluctuations that were triggered by the Ripple victory. Since the court declared that XRP was not a security, the price of the digital asset rallied over 60%, taking the rest of the crypto market with it. However, as the market has broken into a new trading day, prices are starting to stabilize and liquidations are beginning to settle out. If the market continues like this, then there would not be high liquidation volumes going forward. Unless something triggers a rally or a crash, which would lead to more liquidations. Related Reading: Litecoin Becomes 10th-Largest Cryptocurrency, But Is There Still Room To Run? For now, the prices of digital assets such as Bitcoin, Ethereum, and XRP are holding their gains from yesterday quite well. BTC’s price is still above $31,000, ETH is trading slightly below $2,000, and XRP is still seeing 60% gains with its price sitting at $0.779 at the time of this writing. Total crypto market cap crosses $1.2 trillion | Source: Crypto Total Market Cap on Tradingview.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

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Bitcoin Resets Open Interest, Targets $100,000 After Holding Key Support Details

Bitcoin (BTC) appears to be rebounding from its recent pullback after reaching a new all-time high (ATH) of $99,645 on November 22. Despite liquidations exceeding $500 million during the downturn, the event did not trigger the cascading sell-offs seen in previous market cycles. Bitcoin Open Interest Resets: Is $100,000 Next? The flagship cryptocurrency seems ready to make another attempt at the $100,000 milestone. According to crypto analyst Byzantine General, the recent BTC price pullback reset open interest to levels last observed when the asset first touched $90,000. Related Reading: Bitcoin Sell-Side Pressure Dominated By New Holders, Research Shows Critically, Bitcoin held support around $90,875, signaling the potential establishment of a new consolidation phase before the next upward move. Byzantine General stated that BTC is poised to take out the local highs and potentially take a stab at piercing 100k, noting: A lot of the passive supply already got taken out in the previous attempt, so there’s a pretty good chance that we will see 100k soon. Byzantine Generals thoughts were echoed by prominent crypto trader Jelle, who said that $100,000 for BTC was in sight. The trader shared the following chart where BTC appears to be breaking through a downward-sloping trendline. At the same time, it is also forming an inverse head-and-shoulders pattern – typically a bullish indicator. Another crypto analyst Daan Crypto Trades agreed that Bitcoin is within reaching distance of the $100,000 mark. As previously reported, some analysts believe that BTC is mirroring its price action from 2023, which could see the assets price reach as high as $200,000 by early 2025. Healthy Corrections Essential To Fuel Long-Term Growth Bitcoin was trading just above $69,000 on November 6 before surging past its previous ATH and reaching its current price of $97,150 – a staggering 40.8% gain in less than a month. However, such a rapid rally could signal an overextension. Related Reading: Experts Predict Bitcoin Journey To $100,000 After Thanksgiving Rally A slight correction to the low $90,000 level might just have been what was required for BTC to have a more sustained price momentum going forward. Further, it gives time to retail investors – who have been missing from the current market rally – to enter the market and potentially increase the demand-side pressure. The recent price pullback also cooled down the Bitcoin Fear & Greed Index from extreme greed to more moderate levels, setting the stage for a more organic and sustainable rally across the cryptocurrency market. Speaking of long-term forecasts, Pantera Capital founder and managing partner Dan Morehead recently predicted an ambitious price target of $740,000 BTC by 2028. At press time, BTC trades at $97,150, up 1.4% in the past 24 hours. Featured image from Unsplash, charts from X and Tradingview.com

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Bitcoin Price Correction Triggers $296 Million In Liquidations Can BTC Still Hit ATH?

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 [...]

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Crypto Liquidations Near $690 Million As Bitcoin, Ethereum Crash

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

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