Over the past 12 hours, total liquidation of cryptocurrency Futures Contract across the network reached $2.061 billion, primarily driven by Longing positions ($1.958 billion).
Data shows that the sharp price swing wiped out more Longing than Short, with liquidations concentrated heavily in $BTC and ETH within the same timeframe.
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Total liquidation in 12 hours: $2.061 billion.
Longing were liquidated for $1.958 billion; Short were liquidated for $103 million.
BTC liquidated for $671 million; ETH for $884 million.
Liquidation of Futures Contract surged in 12 hours.
Total liquidation of cryptocurrency Futures Contract across the network reached $2.061 billion in 12 hours, with Longing positions accounting for the majority.
In the liquidation structure, $1.958 billion came from Longing positions and $103 million from Short positions. The large difference between Longing and Short positions reflects the downward pressure/unexpected volatility that forced many leveraged long positions to be closed within the same timeframe.
The figures above are based on CoinAnk data and aggregated across the entire network, focusing on the Futures Contract market over a 12-hour timeframe.
$BTC and $ETH are the focus of liquidation.
In 12 hours, BTC was liquidated for $671 million and ETH for $884 million.
Compared to the total liquidation of $2.061 billion across the entire network, BTC and ETH alone contributed the majority of the liquidation volume. This suggests that volatility in these two market-leading assets may have triggered a domino effect on other leveraged positions.
#BitcoinETFWatch #ETH
