Crypto Liquidations Top $450 Million as Bitcoin Price Eyes $100,000
The post Crypto Liquidations Top $450 Million as Bitcoin Price Eyes $100,000 appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The mega rally in the price of Bitcoin (BTC) toward the $100,000 level has sparked a significant liquidation of the broader crypto market. Per data from CoinGlass, the combined crypto market liquidation has topped $452 million in 24 hours. Notably, 160,022 traders were implicated in the liquidation. Bitcoin led liquidation charge The price of Bitcoin soared to an all-time high (ATH) of $97,862.63 overnight as mild upticks continued to push it upward. At the time of writing, the coin has slowed down, dropping to $96,987.24 but still maintaining growth of 3.99%. Related This price outlook has forced a relatively more massive liquidation for short traders, who have lost $91.85 million, against $26.11 million for long traders. Following Bitcoin in the top liquidation streak is Ethereum, which has lost a total of $66.31 million. These relatively lower liquidation figures hinge on the milder price moves that Ethereum has experienced. Despite the Bitcoin rally and multiple ATH breaches, Ethereum remains down 35.73% from its ATH of $4,891.70. Currently, ETH has added 0.5% to reach $3,139.91. Crypto liquidations are not uncommon and are often recorded when the price of Bitcoin or other underlying currencies dramatically shift. More liquidations ahead? Short traders might have a lot more to worry about. This is because the price of Bitcoin appears likely to retain its growth streak.…
Filed under: News - @ November 21, 2024 2:23 pm