In the past 24 hours, a significant number of leverage positions were liquidated in the cryptocurrency market. According to heatmap data, Ethereum (ETH) had the highest liquidation at $97.74 million, followed by Bitcoin (BTC) at $60.96 million.
Over the past 4 hours, Bybit had the most position liquidations, with a total of $23.31 million (27.21%) liquidated. Among these, long positions accounted for $14.48 million (62.15%), while short positions were $8.82 million.
Binance was the second-highest exchange with liquidations, with $20.97 million (24.48%) of positions liquidated. Interestingly, short positions were higher at $11.08 million (52.86%) compared to long positions at $9.88 million.
Gate exchange saw $19.92 million (23.26%) in liquidations, with a very high short position liquidation rate of 72.46%. OKX experienced about $10.63 million (12.41%) in liquidations, with nearly equal liquidation rates for long and short positions.
Bitcoin (BTC) is currently trading at $107,500, down 1.32% in the past 24 hours. For Bitcoin-related positions, $50.25 million in long positions and $10.71 million in short positions were liquidated in 24 hours. In the 4-hour timeframe, $10.49 million in long positions and $2.88 million in short positions were liquidated.
Ethereum (ETH) is trading at $2,726.78, up 3.07% in the past 24 hours. For Ethereum, $4.24 million in long positions and $55.49 million in short positions were liquidated in 24 hours. In the 4-hour timeframe, $16.12 million in long positions and $31.44 million in short positions were recorded.
Solana (SOL) is trading at $171.82, down 1.72%. In the past 24 hours, $8.80 million in long positions and $1.89 million in short positions were liquidated.
Notably, the HYPE Token dropped significantly by 6.73%, and the FARTCO Token also fell by 5.80%. In contrast, UNI showed a positive movement, rising by 9.33%.
A notable point is the significant difference in long and short position liquidation rates across exchanges. Bybit had a high long position liquidation rate, while Gate and Coinex showed very high short position liquidation rates. This indicates varying position tendencies among traders across different exchanges.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leverage position when a trader fails to meet margin requirements. This large-scale liquidation can be seen as an indicator of increased volatility in the recent cryptocurrency market.
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