Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$104,139.00
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-4.44%Reading
As the prices for Bitcoin, Ethereum, and other cryptocurrencies stayed in the red late Monday, investors saw nearly half a billion dollars in positions liquidated in 24 hours. Of $489 million in liquidations, the vast majority—over $432 million—slammed long positions, according to aggregated crypto market data from CoinGlass.
Most of the day's liquidations came in the past 12 hours, as the price of Bitcoin fell as low as $64,548 late Monday and the price of ETH dipped to $3,384, leaving both down more than 5% over the prior seven days.
The overnight figures continued a flood of liquidations observed yesterday, vaporizing $290 million in mostly long positions.
About 200,000 traders were liquidated over the last day, per CoinGlass. Per the site's metrics, the largest single liquidation order happened on Binance, a $6.4 million long bet on Ethereum.
A month-old DJT meme coin on Solana is seeing a flood of trading activity and a massive price spike as Crypto Twitter zeroed in on unsubstantiated rumors that former U.S. president Donald Trump is launching an official token by the same name. While Trump has taken overt steps to court the cryptocurrency community, this latest claim was instigated by The Pirate Wires account on Twitter on Monday and was briefly labeled with a “community note” declaring it "fake news"—though as of this writing, th...
Ethereum led the overall liquidation flood, with $92.5 million in positions rekt over the past 24 hours, as of writing, with CoinGlass showing Bitcoin with $72.8 million in liquidations and Dogecoin (DOGE) with $60.3 million. Shiba Inu (SHIB) and Solana saw $22.9 and $19.8 million in liquidations, respectively, over that same span.
The volatility of crypto—even with massive institutional investor interest in the case of Bitcoin—often leads to forced liquidations as its fluctuating price defies the expectations or hopes of holders.
A price spike in Bitcoin and Ethereum drove over $300 million in short position liquidations in May, for example, followed by an equally sizable surge for long positions a few weeks later.
Edited by Andrew Hayward
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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Optimistic traders betting on future crypto gains have been largely burned over the last day, with liquidations on crypto positions surging above the $800 million mark over the past 24 hours as prices decline. More than $827 million worth of bets have been liquidated during that span, per data from CoinGlass, with long positions making the vast majority of the bunch at $747 million worth. Bitcoin is the biggest single source of pain for traders, making up $222 million worth of soured bets, with...