Immediately after today's rally in Bitcoin, which enabled some cryptocurrency exchanges, including Coinbase, to exceed their all-time highs, a sudden decline occurred in the BTC price.
The sudden decline after the new record of $ 69,324 on Coinbase resulted in a loss of more than 12% at the time of writing, and BTC is currently traded at $ 60,414.
On the other hand, this huge volatility caused large amounts of liquidations from cryptocurrency investors holding both long and short positions.
According to data, $1.11 billion was liquidated in the cryptocurrency market in the last 24 hours. Of these, $826 million was in long positions and $289 billion was in short positions.
On the other hand, a total of 421 million dollars of liquidation took place in the last hour, when volatility increased its momentum. While 404 million dollars of these were in long positions, 17 million dollars were in short positions.
Unsurprisingly, the cryptocurrency that experienced the most liquidation was Bitcoin, which saw $324 million in liquidation in the last 24 hours. In second place was Ethereum with 179 million dollars, followed by Dogecoin with 48 million dollars, Solana with 44 million dollars, LINK with 23 million dollars, and XRP with 22.99 million dollars.
*This is not investment advice.
Flushing out all the weak hands