In the past 24 hours, approximately $184.11 million (about 2.443 trillion Korean won) of leveraged positions in the cryptocurrency market were liquidated.
According to the current aggregated data, among the liquidated positions, long positions were $75.59 million, accounting for 41.1% of the total; short positions were $108.52 million, accounting for 58.9%.
4-hour liquidation data from various exchanges / CoinGlass
In the past 4 hours, the exchange with the most liquidations was Binance, totaling $8.85 million (28.86% of the total). Of this, short positions amounted to $4.43 million, accounting for approximately 50.08%.
The exchange with the second most liquidations was Hyperliquid, with $8.42 million liquidated (27.45%), of which short positions accounted for $8.36 million (99.34%).
Bybit experienced approximately $4.9 million (15.98%) in liquidations, with a short position ratio of 51.71%.
OKX experienced approximately $4.2 million (13.70%) in liquidations, with a higher ratio of long position liquidations at 58.37%.
It is worth noting that the liquidation scale of Bitfinex is small ($2,550), but 100% is from long position liquidations.
Cryptocurrency liquidation data / CoinGlass
In terms of currency, Bitcoin (BTC) related positions were liquidated the most. In the last 24 hours, approximately $75.7 million worth of Bitcoin positions were liquidated; over a 4-hour basis, long positions were liquidated for $3.48 million and short positions for $10.97 million. This is a result of Bitcoin's price fluctuating around the current level of $87,714.5.
Ethereum (ETH) liquidated positions worth approximately $62.69 million in the last 24 hours.
Solana (SOL) saw liquidations of approximately $21.59 million at a price of $123.93; over a 4-hour basis, long positions were liquidated for $352,000 and short positions for $304,000.
It is worth noting that FARTCOIN appeared in the list of cryptocurrencies with high liquidation amounts, with approximately $6.88 million in liquidations.
Dogecoin (DOGE) at a price of $0.12884, over a 4-hour basis, had long position liquidations of $187,000 and short position liquidations of $72,000.
ZEC (Zcash) experienced a relatively large-scale short position liquidation ($26.3 million) at a price of $415.41, while long position liquidations were relatively lower, at only $22,000.
The ratio of short position liquidations in the cryptocurrency market is abnormally high, which is noteworthy. In particular, 99.34% of liquidations at Hyperliquid exchange are from short positions, indicating recent upward pressure in the market.
Article summary by TokenPost.ai
🔎 Market Interpretation
In the last 24 hours, approximately $184.11 million worth of position liquidations occurred, notably with short position liquidations (58.9%) exceeding long position liquidations (41.1%). Especially, 99.34% of liquidations at Hyperliquid exchange are from short positions, reflecting upward pressure in the market. The ranking of liquidation scale is BTC, ETH, SOL, with the liquidation amount of ZEC's short positions being nearly 12 times that of long positions.
💡 Strategy Highlights
The market is currently experiencing a short squeeze phenomenon targeting short positions, so attention needs to be paid to the short-term upward trend. In particular, the liquidation amount of BTC short positions is more than three times that of long positions, suggesting the potential for further increases. However, liquidation patterns across exchanges vary, which also needs to consider that market participants' position layouts are diverging.
📘 Terminology Explanation
- Liquidation: In leveraged trading, the phenomenon where positions are forcibly closed when the value of collateral falls below the maintenance margin.
- Short Squeeze: In the process of price rising, the holders of short positions close their positions to avoid losses, causing further price increases.
- Long Position: A position bought with the expectation that the asset price will rise.
- Short Position: A position sold with the expectation that the asset price will decline.
TokenPost AI Notes
A summary of the article was made using the language model based on TokenPost.ai. The main content of the text may have been omitted or may not be consistent with the facts.
