As per coinglass data Crypto market faces $237M liquidations in 24 hours, with short positions dominating. Binance and OKX lead in liquidation volumes, reflecting bearish market sentiment.
- Total Liquidations: $237.32M in the last 24 hours
- Long Positions: $98.03M liquidated
- Short Positions: $139.29M liquidated
- Binance and OKX lead in liquidations
Market Shows Bearish Trend with $237M in Liquidations
In the past 24 hours, the crypto market experienced a significant shakeup with total liquidations reaching $237.32 million. This trend highlights a bearish market sentiment, with short positions taking a substantial hit across various exchanges.
Key Exchange Liquidations
1. Binance: The Heavyweight
- Total Liquidations: $112.81M
- Long: $47.08M
- Short: $65.73M
- Liquidation Rate: 47.54%
- Short Liquidations: 58.27%
Binance leads the pack with the highest liquidation volume, showing a strong bearish trend as short liquidations dominate.
2. OKX: Following Close
- Total Liquidations: $68.55M
- Long: $28.01M
- Short: $40.55M
- Liquidation Rate: 28.89%
- Short Liquidations: 59.15%
OKX also saw significant liquidation activity, with short positions making up the majority.
3. Huobi: Steady Bearishness
- Total Liquidations: $23.18M
- Long: $8.53M
- Short: $14.65M
- Liquidation Rate: 9.77%
- Short Liquidations: 63.21%
Huobi’s data reflects a strong bearish sentiment, with a substantial portion of liquidations from short positions.
4. Bybit: Balanced Liquidations
- Total Liquidations: $20.66M
- Long: $10.40M
- Short: $10.25M
- Liquidation Rate: 8.7%
- Long Liquidations: 50.36%
Bybit stands out with a nearly equal distribution of long and short liquidations, indicating a more balanced market sentiment.
Minor Exchanges
5. CoinEx: Small but Bearish
- Total Liquidations: $6.82M
- Long: $2.32M
- Short: $4.50M
- Liquidation Rate: 2.88%
- Short Liquidations: 65.98%
CoinEx, while smaller, shows a significant tilt towards short liquidations.
6. Bitmex: Persistent Bears
- Total Liquidations: $5.11M
- Long: $1.62M
- Short: $3.49M
- Liquidation Rate: 2.15%
- Short Liquidations: 68.32%
Bitmex continues the trend with a high percentage of short liquidations.
7. Bitfinex: Minimal Activity
- Total Liquidations: $184.24K
- Long: $75.03K
- Short: $109.22K
- Liquidation Rate: 0.08%
- Short Liquidations: 59.28%
Bitfinex, though minimal in volume, still shows more short liquidations.
Analysis: Market Sentiment and Implications
The liquidation data reveals a predominant bearish trend, with a significant portion of liquidations coming from short positions across most exchanges. This trend is particularly evident in major exchanges like Binance and OKX, which have the highest liquidation volumes.
Implications for Traders
The current market conditions suggest increased volatility and a potential market downturn. Traders should exercise caution and consider the bearish sentiment when making trading decisions. Monitoring liquidation trends can provide valuable insights into market movements and help in strategizing positions effectively.