Bitcoin Price Surge Triggers Significant Liquidations
Bitcoin’s value recently climbed to $64,890, an increase from $62,849 within a 24-hour timeframe. This surge resulted in a massive $193.63 million in total liquidations in just one day. As reported by Coinglass, a staggering 57,624 traders were liquidated during this period.
Major Liquidation Details
The largest single liquidation was a staggering $9.59 million on the OKX BTC-USDT-SWAP platform. Analyzing the types of positions liquidated:
- Short Positions: $128.04 million
- Long Positions: $65.65 million
Recent Liquidation Statistics
In the last hour alone, total liquidations reached $10.99 million, predominantly from short positions amounting to $10.59 million. Over the previous four hours, liquidations totalled $32.38 million, with:
- Short Positions: $28.47 million
- Long Positions: $3.91 million
Asset Contributions to Liquidations
Bitcoin led the way in liquidations by asset, accounting for $67.99 million, followed closely by Ethereum at $39.05 million. The recent increase in Bitcoin’s price created substantial pressure on traders operating short positions, especially after a previous week that saw the liquidation of $144 million in long positions due to market fluctuations.
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