$270M liquidated from the crypto market in 24 hours, BTC, XRP, SOL, and DOGE lead market recovery
The post $270M liquidated from the crypto market in 24 hours, BTC, XRP, SOL, and DOGE lead market recovery appeared on BitcoinEthereumNews.com.
The crypto market is slowly treading towards a price recovery, which has caused investors who had shorted coins to lose over $150 million in the last day. During the period, Bitcoin (BTC), XRP, Solana (SOL), and Dogecoin (DOGE) have all witnessed price upticks of over 2%. DOGE’s 24-hour 6% gain is the highest among the top 10 cryptos by market cap. According to CoinGlass, crypto liquidations peaked at $270 million, with short positions reaching $127 million by Thursday’s close. About $142 million was liquidated from long traders at the time, but the number trickled down to $82 million after digital currency prices went up. Bitcoin, which is currently trading 2% more than the previous close, had over $40 million in positions exited, placing it as the most liquidated coin in the last 24 hours. Crypto short liquidations up after brief price recovery Since April 21, most cryptocurrencies have shown signs of a potential trend reversal, supported by growing whale activity across major exchanges. According to CryptoQuant contributor Crypto Dan, whale purchases on Binance grew ahead of each rebound, with similar buying patterns also emerging on US-based Coinbase. The Coinbase Premium index has been consistently positive this business week after a period of sustained demand from US investors, backed by a more optimistic market. Crypto Dan believes the current patterns mean investors are confident that the market is going beyond short-lived rallies. Per CryptoQuant’s chart, exchange funding rates turned negative, falling sharply below the -0.0060 mark at around 03:00 PM UTC yesterday. Before the rates tanked, Bitcoin had taken a slight dip below $92,000 and was on track to go down even further, but a price correction pushed the price level back above at around 05:00 PM UTC. Bitcoin Funding Rates chart. Source: CryptoQuant. Within just 10 hours, Bitcoin surged to…
Filed under: News - @ April 25, 2025 12:25 pm