Cryptocurrency Market Liquidates $404.4573 Million in Leveraged Positions Over 24 Hours

It was found that leveraged positions worth approximately $404.4573 million (about 580 billion won) were liquidated in the cryptocurrency market over the past 24 hours. According to currently compiled data, long positions accounted for $300.3268 million of the liquidated positions, representing 81.2% of the total, while short positions recorded $73.1305 million, or 18.8%.

4-Hour Exchange Liquidation Data / CoinGlass

Binance was the exchange with the highest number of position liquidations over the past four hours, with a total of $120,700 (48.54% of the total) liquidated. Of this, long positions accounted for $61,000, or 50.57%. OKX was the exchange with the second highest number of liquidations, with $44,800 (18.01%) of positions liquidated, of which long positions accounted for $25,600 (57.15%). Bybit saw approximately $28,700 (11.53%) in liquidations, with long positions making up 62.81%. Notably, Hyperliquid showed a short position liquidation rate of 66.81%.

Cryptocurrency Liquidation Data / CoinGlass

By coin, Bitcoin (BTC)-related positions saw the highest liquidation. Over the past 24 hours, approximately $206.347 million in Bitcoin positions was liquidated, with a peak liquidation of $81,700 occurring over a 4-hour period. For Ethereum (ETH), approximately $106.064 million in positions were liquidated over 24 hours, with a peak liquidation of $3.77 million recorded over a 4-hour period. Solana (SOL) saw approximately $156,200 liquidated over 24 hours, while among other major altcoins, XRP ($438,200) and DOGE ($173,800) recorded the highest liquidations. In the cryptocurrency market, "liquidation" refers to the phenomenon where a position is forcibly closed when a trader holding a leveraged position fails to meet margin requirements. This large-scale liquidation can be viewed as an indicator of the recent increase in volatility in the cryptocurrency market.

Article Summary by TokenPost.ai

🔎 Market Analysis: Due to recent sharp fluctuations in the cryptocurrency market, positions worth approximately $404.4573 million were forcibly liquidated. In particular, with long positions liquidated at a rate of 81.2%, it is analyzed that investors who expected a rise suffered significant losses.

💡 Strategy Point: The concentrated liquidation of long positions on major exchanges such as Binance and OKX can be seen as a process of resolving the market's overheated leverage. Caution is required as altcoin volatility is appearing to be significantly higher than that of Bitcoin.

📘 Terminology: Long Position - Refers to a state where an asset is purchased by betting that its price will rise; if the price falls, there is a risk of forced liquidation due to insufficient margin.