The cryptocurrency market has witnessed a significant slump in the past 24 hours. A staggering $1.76 billion in assets held by 583,810 traders have been liquidated as Bitcoin’s price tumbled to $95,000. The majority of the liquidations, amounting to $1.58 billion, were of long positions, with short positions accounting for $184.51 million.
Bitcoin (BTC), the dominant cryptocurrency, had liquidations totaling $189.19 million within a day. Out of this, $147.95 million were long positions and $41.23 million were short positions. In just the past hour, $3.96 million worth of BTC positions were liquidated, with long positions at $3.21 million and short positions at $755,420.
Across all cryptocurrencies, the liquidation figures were in the red, indicating substantial losses. The hourly liquidation amounted to $10.63 million, comprising $2.78 million in long positions and $7.85 million in short positions. The four-hour liquidation figure stood at $144.69 million, with $120.80 million in long positions and $23.89 million in short positions.
The largest single liquidation order on Binance was for the ETHUSDT pair, valued at $19.69 million. Other altcoins also contributed significantly to the overall 24-hour liquidation loss of $563.25 million, with long positions losing $537.43 million and short positions losing $25.81 million.
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