Cryptocurrency market, $850 million in leverage positions liquidated in 24 hours

Source: TokenPost Original Title: Cryptocurrency Market, $850 Million Liquidated in 24 Hours Original Link: In the past 24 hours, a total of $850 million in leverage positions have been liquidated in the cryptocurrency market, with short positions accounting for approximately 60% of the total. Ethereum experienced the highest liquidation volume, followed by major exchanges in order of liquidation amount.

24-Hour Liquidation Overview

In the last 24 hours, approximately $850 million worth of leverage positions have been liquidated in the cryptocurrency market. Short positions made up about 60% of the liquidations, showing a dominance over long position liquidations.

Liquidation by Exchange

The exchange with the highest liquidation volume in the past 4 hours is Major Exchange A, with a total of $23.01 million(27%) liquidated. Among these, short positions accounted for 57.78%.

The second highest liquidation occurred on Major Exchange B, with $20.09 million(23.57%) liquidated, with short positions comprising 50.6%.

Major Exchange C saw about $13.3 million(15.61%) liquidated, with short positions making up 59.49%.

Notably, some exchanges had a very high short position liquidation ratio of 92.09%, while others experienced overwhelmingly higher long position liquidations at 97.17%.

Coin-specific Liquidation Data

Ethereum(ETH) positions were the most liquidated. Approximately $88.6 million was liquidated from Ethereum positions over 24 hours.

Bitcoin(BTC) saw about $53.77 million in liquidated positions over 24 hours, with 4-hour data showing $7.63 million in long liquidations and $11.72 million in short liquidations. The current Bitcoin price is $92,781.2, reflecting a 1.02% decrease over 24 hours.

Solana(SOL) was liquidated for about $9 million, with the current price at $138.08, down 2.82%. In the past 4 hours, $1.59 million in long positions and $1.13 million in short positions were liquidated.

Dogecoin(DOGE) experienced a 2.44% price drop, with $426,000 in long liquidations and $728,000 in short liquidations over 4 hours.

Particularly notable are the PIPPIN and WET tokens, with significant liquidations of $10.76 million and $4.77 million respectively. Despite a 1.34% increase, HYPE token saw $740,000 in long liquidations and $2.13 million in short liquidations over 4 hours.

XRP declined by 3.20%, with $1.57 million in long liquidations and $128,000 in short liquidations over 4 hours. ZEC(ZEC) also dropped by 1.5%, with total liquidations exceeding $710,000 in 4 hours.

Market Analysis

• About $850 million in leverage positions were liquidated in the past 24 hours
• Short position liquidations account for roughly 60%, indicating a possible temporary upward market trend
• Ethereum experienced the highest liquidation volume at $88.6 million, followed by Bitcoin
• Liquidation volumes were highest on major exchanges

Strategic Points

• Overall, short position liquidations are dominant, suggesting potential short-term upward momentum
• Liquidation ratios vary across exchanges; reference to each exchange’s position ratio is needed
• Bitcoin and Ethereum are leading market volatility and also influencing altcoins
• Coins like HYPE, which see significant short liquidations during bullish runs, require further observation

Terminology

• Liquidation(Liquidation): When collateral value falls below maintenance margin in leverage trading, resulting in forced closure of the position
• Long Position(Long Position): A position bought expecting the price to rise
• Short Position(Short Position): A position sold expecting the price to fall
• Leverage Trading: Trading with borrowed funds larger than one’s own capital