The Bitcoin increase beyond the $ 110,000 has caused generalized settlements, with merchants who have short positions with the worst part of the losses. Coinglass data show a total of $ 404 million (₱ 22.5 billion) in liquidations in the last 24 hours.
Key details
- Total cryptographic settlements in 24 hours: $ 404.46 million
- Short positions accounted for: $ 339.23 million
- Larger individual settlement: $ 3.28 million in Bybit (BTCUSDT)
- Total merchants liquidated: 99,092
- Bitcoin price: $ 110,164.48 (+3.63%)
Exchange data
Bybit led settlements with more than $ 80 million, of which more than 98% were short positions. Other exchanges with significant settlements include door, Binance and HTX.
- EBIT: $ 80.28 million (98.56% short)
- Door: $ 47.49 million (96.24% short)
- Binance: $ 35.28 million (91.95% short)
- Cooperative: $ 22.91 million (98.82% short)
The Bitcoin price movement has had a strong domino effect on Altcoins.
- Ethereum increased above $ 2,640 with a gain of 4.5%.
- Solana also saw a 3%increase, quoting about $ 160.
- The tokens of memes such as Dogecoin and Shiba Inu saw profits of 4.5% and 2.5%, respectively.
Break the phase but caution must be
According to the merchant who is called Planc in X, the consolidation phase has been long enough to start a break.
Despite the strong market rally, caution remains as liquidations reflect continuous volatility.
The rally has also coincided with minor increases in broader financial markets, including Nasdaq and S&P 500, although the Crypto movement seems largely autonomous.
This article is published in bitpins: Bitcoin Rally triggers $ 404 million in liquidations, mostly short positions
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