{"id":15328,"date":"2024-03-13T10:49:59","date_gmt":"2024-03-13T10:49:59","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=15328"},"modified":"2024-03-13T10:49:59","modified_gmt":"2024-03-13T10:49:59","slug":"bitcoin-rollercoaster-liquidates-360-million-as-price-hits-new-high","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-rollercoaster-liquidates-360-million-as-price-hits-new-high\/","title":{"rendered":"Bitcoin Rollercoaster Liquidates $360 Million as Price Hits New High"},"content":{"rendered":"

In the past 24 hours, over $361 million worth of leveraged trades have been liquidated as Bitcoin experienced extreme volatility, hitting a new all-time high of $73,050 before retracing below $70,000 on March 12.<\/p>\n

Most of the liquidations targeted long positions, amounting to $258 million wiped out, while short sellers lost slightly over $103 million, according to data from crypto trading platform Coinglass.<\/p>\n

This liquidation event marks the largest flush-out of long positions since March 5, when Bitcoin plunged to $60,800 after reaching its previous all-time high of approximately $69,000.<\/p>\n

\"\"<\/p>\n

Despite the significant price swings, volatility was relatively milder this time, with Bitcoin’s price fluctuating by 4.85% between its low of $69,365 and its high of $72,733, as reported by CoinGecko.<\/p>\n

As of the time of publication, Bitcoin<\/a> has stabilized around $71,400.<\/p>\n

A spokesperson from 10x Research suggested that the increase in volatility may stem from traders anticipating a potential price correction. Additionally, there is a significant Fear of Missing Out (FOMO) sentiment among traders, which could further fuel the ongoing rally.<\/p>\n

Furthermore, 10x Research highlighted a 5% increase in futures open interest over the weekend of March 9 and 10, speculating that these positions might have been established with tight stop-loss orders.<\/p>\n

Bitcoin and Ether accounted for the majority of liquidations in the past 24 hours, with $106.3 million and $73.3 million liquidated, respectively. Other cryptocurrencies such as Solana, Dogecoin, and the Bitcoin-based memecoin Ordi (ORDI) also experienced notable liquidation events.<\/p>\n

\n

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram<\/strong>\u00a0 ,<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n<\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

In the past 24 hours, over $361 million worth of leveraged trades have been liquidated as Bitcoin experienced extreme volatility, hitting a new all-time high of $73,050 before retracing below $70,000 on March 12. 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