In the past 24 hours, approximately $1.68 billion (around 2.4 trillion won) of leveraged positions in the cryptocurrency market have been liquidated.
According to the current aggregated data, among the liquidated positions, long positions amounted to $490 million, accounting for 29.1%; short positions amounted to $1.19 billion, accounting for 70.9%.
4-hour liquidation data for each exchange / CoinGlass
In the past 4 hours, the exchange with the most liquidated positions was Binance, with a total of $681 million (accounting for 40.5%) liquidated. Among them, long positions accounted for $221 million, or 32.5%.
The second most liquidated exchange was Bybit, with $408 million (24.3%) of positions liquidated, among which long positions accounted for $799.69 million (19.6%).
OKX experienced approximately $354 million (21.1%) in liquidations, with long positions accounting for 39.5%.
Notably, at BitMeker exchange, only long positions were liquidated, with no short positions liquidated. Furthermore, Bitfinex showed no positions liquidated in the past 24 hours.
Cryptocurrency liquidation data / CoinGlass
In terms of cryptocurrencies, Bitcoin (BTC) related positions were liquidated the most. Within 24 hours, approximately $2.182 billion in Bitcoin positions were liquidated; over a 4-hour basis, long positions experienced liquidations of $297,000 and short positions experienced liquidations of $2.03 million.
Ethereum (ETH) had approximately $1.803 billion in positions liquidated within 24 hours.
Solana (SOL) had approximately $363 million liquidated within 24 hours, with long positions liquidated at $325,000 and short positions liquidated at $421,000 over a 4-hour basis.
Dogecoin (DOGE) experienced liquidations of long positions worth $208,000 and short positions worth $341,000 within 4 hours, totaling $549,000 in liquidations.
Notably, new tokens like LIGHT, NIGHT, and BEAT experienced massive liquidations of $1.153 billion, $404 million, and $384 million respectively.
One of the most noteworthy cryptocurrencies is Zcash (ZEC), whose price reached $446.66, exhibiting an imbalanced liquidation pattern with long positions of $120,000 and short positions of $631,000 within 4 hours.
In the cryptocurrency market, "liquidation" refers to the forced closure of positions held by traders with leveraged positions when they fail to meet margin requirements. This large-scale liquidation can be seen as an indicator of the recent sharp increase in cryptocurrency market volatility.
Article summary by TokenPost.ai
🔎 Market Interpretation
- Within 24 hours, leveraged positions worth $1.68 billion were liquidated.
- The liquidation of short positions (70.9%) is more than twice that of long positions (29.1%).
- Most liquidations occurred on Binance, Bybit, and OKX exchanges.
- Besides BTC and ETH, the LIGHT, NIGHT, and BEAT tokens also experienced massive liquidations.
💡 Strategy Highlights
- The current situation of dominant short position liquidations in the market may be a bullish signal.
- The imbalanced liquidation patterns of cryptocurrencies like ZEC suggest that price volatility may intensify.
- The absence of liquidations at Bitfinex indicates effective risk management by investors on that exchange.
📘 Terminology Explanation
- Liquidation: The phenomenon of forced closure of positions in leveraged trading due to failure to meet margin requirements.
- Long positions: Positions bought in anticipation of a rise in asset prices.
- Short positions: Positions sold in anticipation of a decline in asset prices.
TokenPost AI Notes
This article uses a language model based on TokenPost.ai for summarization. The main content of the text may be omitted or inconsistent with the facts.
