The cryptocurrency market saw a sharp slowdown over the past 24 hours, leading to the liquidation of $1.76 billion among 583,810 traders as Bitcoin fell to $95,000. This wave of liquidations mainly affected long positions, which accounted for $1.58 billion, while short positions accounted for $184.51 million.
Bitcoin (BTC), the leading cryptocurrency, saw liquidations amounting to $189.19 million in 24 hours. Of this amount, $147.95 million were long positions and $41.23 million were short positions.
In the last hour alone, $3.96 million worth of BTC positions were liquidated, with long positions totaling $3.21 million and short positions at $755,420.
On a broader level, liquidation figures for all cryptocurrencies were in red, with significant losses. One-hour liquidation figures reached $10.63 million, including $2.78 million in long positions and $7.85 million in short positions.
In the four-hour liquidation figure, it stood at $144.69 million, including $120.80 million in long positions and $23.89 million in short positions.
The largest order in the single liquidation on Binance was for its ETHUSDT pair worth $19.69 million. Other altcoins should not be overlooked for hitting the incredible 24-hour liquidation total, as they lost $563.25 million. Of this, $537.43 million came from long positions while $25.81 million came from short positions.
Also Read: Bitcoin Falls to $97.8K – Is the Bull Crushed?
