As a seasoned crypto investor with a decade of experience under my belt, I’ve seen market volatility like this more times than I can count. The recent liquidations of $223.21 million worth of short positions, mostly on Bitcoin, is nothing new to me – it’s just another day in the life of a crypto investor!
Over the last 24 hours, a total of $255 million in cryptocurrency positions has been terminated, with approximately $223.21 million of those being short positions being the primary cause for this loss.
Approximately 60,427 traders have had their positions closed, with the biggest single closure valued at around $18 million.
Binance, OKX, and HTX are in the top 3 in terms of the amount of liquidated crypto.
In terms of individual cryptocurrencies, Bitcoin dominates with over half of all shorted positions worth approximately $113.8 million. Following closely behind are Ethereum ($32.6 million) and Solana ($15.4 million). Dogecoin and XRP also make it into the top five.
This afternoon, I observed that Bitcoin attained a significant milestone on the CoinGecko platform, touching an impressive multi-month peak of $72,952. Over the past day, it has experienced a noteworthy increase of almost 6%. Remarkably, it is only about 2% away from establishing a brand new record high.
In my analysis, I’ve observed that the leading cryptocurrency has surpassed its previous highs when measured in Canadian dollars and euros, a significant milestone as reported by U.Today.
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2024-10-29 21:50