Bitcoin Price Reaches Near All-Time High Before Reversing, Causing $289 Million in Liquidations
The price of Bitcoin surged to $72.9k before reversing to $69.2k, resulting in $289.93 million in liquidations within 24 hours. This affected 96,574 traders, according to Coinglass data.
Long positions accounted for $259.21 million in liquidations, while short positions accounted for $30.72 million. The largest single liquidation order was valued at $11.26 million on Binance’s BTCUSDT pair.
Bitcoin led in liquidation volume at $89.72 million, followed by Ethereum at $45.21 million. Other cryptocurrencies accounted for $47.07 million in liquidations. Binance experienced the highest exchange liquidations at $155.6 million, with 89.12% being long positions. Bybit and OKX followed with liquidations of $5.33 million and $5.19 million.
Crypto Market Liquidations (Source: Coinglass)
Liam ‘Akiba’ 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.
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