The post In Past 4 Hours, Crypto Liquidation of $49.05 M Seen appeared on BitcoinEthereumNews.com.

According to the data on Coinglass, in the past 4 hours, all crypto networks have liquidated $49.05 Million with most liquidation coming from short orders which amounts to $46.11 Million. The largest single liquidation order in the past 4 hours was on OKX – BTC-USDT-SWAP value $11.02M. In the past 24 hours , 28,959 traders were liquidated, the total liquidations comes in at $98.57 million. When it comes to on-chain metrics individually, $29.61M were short orders liquidation on Bitcoin, $4.57M were short order liquidations on Ethereum and $4.73M on Solana.This could be caused as Bitcoin slipped at $53,786 on September 8 before it jumped back to $54,780.73. Ethereum too, at one point slipped to $2,244 on September 08, and is now trading at $2,301. As for Solana, even though the popular crypto is trading at $129.66, it had dipped to $127.22  yesterday. However, all three cryptos have been now recording a slight spike, with crypto bulls attaining liquidation.Liquidation happens when a trader’s position is forcibly closed in the crypto market. It occurs when a trader’s margin account can no longer support their open positions due to significant losses or insufficient margin to meet the maintenance requirements.The exchange or brokerage platform begins the liquidation process for a trader whose account falls below the required margin mark in order to cover losses and debts. Also Read: As Bitcoin Holds Above $50K, Will a Double Bottom Lead the Next Big Move? Source: https://www.cryptonewsz.com/in-4-hour-crypto-liquidation-reach-49-05m/

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Filed under: News - @ September 9, 2024 1:33 am