The cryptocurrency market experienced significant volatility over the past 24 hours, leading to massive liquidations. According to CoinGlass, the total forced liquidation volume was approximately $635.9 million (about 928 billion won), with around $560 million (about 818 billion won) occurring in short positions. This indicates that investors betting on a bearish market suffered substantial losses.
Bitcoin's (BTC) movement was particularly highlighted as a key factor. Bitcoin's price surged 6.29% in a single day, breaking through $94,000, resulting in the liquidation of approximately $293 million (about 427 billion won) in short positions, which is the largest liquidation volume for a single asset.
Ethereum (ETH) was no exception. As its price rose nearly 10% to reach $1,787, short positions worth $109 million (about 159 billion won) were settled. This reflects the liquidation pressure investors faced in major altcoins.
Among exchanges, Binance recorded the largest liquidation volume. In just the past 4 hours, positions worth $18.7 million (about 27 billion won) were liquidated, with an astounding 78% being short positions. Major exchanges like Bybit and OKX also recorded high liquidation rates, reflecting market uncertainty.
Experts analyze that the recent upward trend is influenced by Donald Trump's pro-cryptocurrency statements and expectations of regulatory relaxation. With short positions being rapidly liquidated due to the sudden surge, triggering a short squeeze, the market is expected to maintain a bullish trend in the near term.
Get news in real-time...Go to Token Post Telegram
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
