The post Crypto liquidations reach $313 million as Bitcoin flash crashes to $92.7k appeared on BitcoinEthereumNews.com.

Crypto liquidations have remained elevated over the past 24 hours, reaching $314 million as Bitcoin wicked down to $92,700, according to Coinglass data. The largest single liquidation order occurred on BitMEX, involving a $5.5 million XBTUSD position. Over 121,000 traders were liquidated during this period, underscoring heightened market volatility. Liquidations (Source: Coinglass) Long positions bore the brunt, accounting for $194 million, roughly 60% of total liquidations. Short positions contributed $120 million, highlighting imbalances as traders attempted to navigate Bitcoin’s fluctuating price. Exchange-specific data shows Binance leading in liquidations, with $31.52 million cleared, of which 81.04% were long positions. OKX followed with $15.75 million, maintaining a similar long-dominant liquidation ratio of 79.75%. Bybit recorded $13.64 million in liquidations, with 78.5% attributed to long positions. Bitcoin’s price movements have remained volatile in early January, recovering to $102,000 on Jan. 6 before retracing on Jan. 7. Today, Jan. 10, Bitcoin opened positively, gaining 4% to hit $95,000 before flash crashing to $92,7000 and subsequently recovering quickly to $94,400 as of press time. These liquidations reflect traders’ positioning for further directional moves as Bitcoin trades within a tight range following its recent all-time highs in December. Amid $83.51 million liquidated in BTC positions, Coinglass data also highlights notable activity in altcoin markets, with $54.93 million in ETH positions. This concentration of liquidations suggests market participants remain highly leveraged, potentially setting the stage for continued volatility in the near term. Source: https://cryptoslate.com/insights/crypto-liquidations-reach-313-million-as-bitcoin-flash-crashes-to-92-7k/

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Filed under: News - @ January 10, 2025 2:28 pm