As a seasoned crypto investor with several years of experience under my belt, I’ve seen my fair share of market volatility. And let me tell you, the past 24 hours have been a rollercoaster ride. With over $207 million in crypto being liquidated within a day, it’s a stark reminder of how quickly things can turn sour in this space.
As a crypto investor, I’ve noticed some troubling news from Coinglass’ recent data update. A staggering $207 million in cryptocurrency positions have been liquidated within the last 24 hours. The lion’s share of this loss, approximately $184.09 million, can be attributed to long positions.
Notably, $135.84 million worth of crypto has been liquidated over the past four hours alone.
Among all exchanges, OKX holds the top spot with a total of $47.64 million in liquidations. Binance follows closely behind in second place with $43.84 million, while Huobi ranks third with $27.19 million in liquidations.
As a researcher studying recent market activity, I’ve discovered that approximately 80,000 traders have encountered margin calls within the last 24 hours. The most substantial of these liquidations reached a noteworthy figure of over $3 million on the OKX exchange.
Bitcoin, Ethereum, Solana, and Dogecoin are in the lead by liquidations.
As a crypto investor, I’ve noticed that Bitcoin hit a low of $65,018 this past Friday, based on data from CoinGecko. Currently, it’s trading at $65,448, representing a decrease in value from its previous gains. Over the last week, Bitcoin has experienced a decline of approximately 5%.
On Wednesday, the value of the flagship digital coin approached the $70,000 mark following the release of lower-than-anticipated US inflation figures in May. Yet, its progress was halted after Jerome Powell, the Federal Reserve Chair, delivered unexpectedly hawkish remarks during the same day. These comments alarmed traders who had been optimistic about several rate reductions in 2021.
Because of the combined impact of Bitcoin ETF redemptions and broader economic instability, the leading cryptocurrency struggled to perform and ultimately fell below the crucial $66,000 mark.
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2024-06-15 00:01