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Bitcoin today spiked to the 51,800 band, causing the liquidation of short positions on centralized exchanges. Also, this liquidation led to a loss of value over 92 million dollars in the last 4 hours. In the last 24 hours, the liquidation of short positions exceeded a total of 140 million dollars.
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Bitcoin’s volatility, i.e., high fluctuations, adversely affected those who trade with leverage. Especially after yesterday’s announcement of US inflation figures, an approximate decrease of 2000 dollars and the subsequent increase caused both long and short position holders’ investments to be liquidated.
In the last 24 hours, while positions amounting to 230 million dollars were liquidated, 92 million dollars of them originated from long positions, and the 140 million dollar portion was from short positions. It was also observed that a short position of 9 million dollars was liquidated in the last hour
You can see the Bitcoin Long and Short ratios from our website and by clicking here to Coinglass.
The number of people whose positions were liquidated was over 61 thousand, and the biggest liquidation occurred in the BTC-USDT swap pair on the OKX exchange.
On the other hand, with today’s increases, cryptocurrency markets exceeded a total value of 2 trillion dollars. This figure was last seen in April 2022.
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