Approximately $98.44 million worth of leveraged positions were liquidated in the cryptocurrency market over the past 24 hours.
According to currently aggregated data, long positions accounted for 78.22% of the total liquidated positions, or $78.22 million, while short positions accounted for 21.78%, or $20.22 million.
Binance saw the most liquidations over the past four hours, with a total of $34.61 million (35.16% of the total). Of this, long positions accounted for $29.8 million, or 86.11%.
The second exchange with the most liquidations was Bybit, where $17.66 million (17.94%) of positions were liquidated, of which long positions accounted for $14.68 million (83.13%).
OKX saw liquidations of approximately $11.77 million (11.95%), with a long position ratio of 81.59%.
Notably, Bitfinex had a very low liquidation amount of $19.35, with a 100% long position liquidation rate.
By coin, Bitcoin (BTC) positions saw the most liquidations. Approximately $395.01 million worth of Bitcoin positions were liquidated over the past 24 hours. Over the past four hours, $45.26 million in long positions and $11.17 million in short positions were liquidated. The Bitcoin price is currently $68,035.6, up 3.38% over the past 24 hours.
Ethereum (ETH) saw the second-highest number of liquidations, with approximately $130.93 million worth of positions liquidated over the past 24 hours.
Solana (SOL) saw approximately $26.15 million liquidated over the past 24 hours, with $2.78 million in long positions and $579,000 in short positions liquidated over the past four hours. Solana is currently trading at $85.04, up 5.71% over the past 24 hours.
Approximately $27.53 million worth of XRP positions were liquidated over the past 24 hours. Over the past four hours, $4.38 million in long positions and $683,900 in short positions were liquidated. The XRP price is currently at $1.4013, up 3.32% over the past 24 hours.
Dogecoin (DOGE) saw long positions liquidated at $764,600 and short positions liquidated at $154,600 over the past 4 hours, with the price currently trading at $0.09555, up 2.28% over the past 24 hours.
In particular, BCH (Bitcoin Cash) showed a significant increase of 10.07% over 24 hours, with long positions worth $45,500 and short positions worth $74,200 liquidated over 4 hours.
ZEC (Zcash) also saw significant liquidations, with long positions worth $544,500 and short positions worth $85,000 liquidated over the past four hours, pushing the price up 2.74% to $228.72.
In the cryptocurrency market, "liquidation" refers to the forced closure of leveraged positions when traders fail to meet margin requirements. This liquidation data can be seen as an indicator that short position holders are feeling pressure amid the recent cryptocurrency market uptrend.
Article Summary by TokenPost.ai
🔎 Market Interpretation
- Approximately $98.44 million worth of leveraged positions were liquidated over 24 hours.
- Long position liquidation accounts for 78.22%, and short position liquidation accounts for 21.78%.
- Binance had the most liquidations (35.16%), followed by Bybit (17.94%).
- Bitcoin and Ethereum had the most liquidations, at $395.01 million and $130.93 million, respectively.
- BCH shows notable price fluctuations, rising 10.07%.
💡 Strategy Points
- Short position holders are under pressure amid the market's upward trend.
The strong upward trend of some altcoins, such as BCH and SOL, could present a short-term trading opportunity.
Bitfinex's low liquidation volume suggests that the exchange's users have relatively good risk management.
- High liquidation rates for long positions still indicate high market volatility, so setting an appropriate leverage ratio is important.
📘 Glossary
- Liquidation: In leveraged trading, a position is forcibly closed when the margin maintenance rate falls below the reference level.
- Long Position: A position purchased in anticipation of an asset price rise.
- Short Position: A position sold in anticipation of a decline in asset price.
- Leverage: A trading method in the form of a loan that allows investors to trade with an amount larger than their capital.
TokenPost AI Notes
This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.
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