Bitcoin Volatility Triggers $311.53 Million in Crypto Liquidations
Bitcoin’s recent volatility led to $311.53 million in total crypto liquidations within the last 24 hours, with trading fluctuating between $95,000 and $92,000. This movement followed an initial 2% increase, which was later offset by a 3% decline as the Asia markets opened.
Total Liquidations Breakdown
- Long positions accounted for 78.82% of liquidations, totaling $245.55 million.
- Short positions saw $65.99 million in liquidations.
- Binance led with $127.18 million liquidated, 81.21% from long positions.
- OKX and Bybit followed with $79.50 million and $52.87 million liquidated, dominated by long liquidations.
Asset Liquidation Details
Bitcoin remained the most liquidated asset, with $44.91 million from long positions and $20.43 million from shorts. Ethereum followed with $34.31 million liquidated from longs and $18.11 million from shorts. Other assets like Solana, XRP, and Dogecoin also contributed to the liquidations, reflecting broader market instability.
Largest Single Liquidation
The largest single liquidation occurred on Binance’s BTCUSDT pair, valued at $8.21 million. Over 132,800 traders were affected, indicating sustained high levels of crypto liquidations despite a slight decline in open interest, which fell to $60 billion from a high of $71 billion on Dec. 18.
Liam ‘Akiba’ Wright
Also known as “Akiba,” Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
