With the overall crypto market ecosystem profitable for many, with the price of Bitcoin (BTC) rising above $65,500 today, it has marked something of an end of the world for over 90,000 traders. Data of CoinGlass puts current market liquidations at $248.52 million in the last 24 hours, a trend that “rejects” short traders.
With the overall crypto market ecosystem profitable for many, with the price of Bitcoin (BTC) rising above $65,500 today, it has marked something of an end of the world for over 90,000 traders. Data of CoinGlass puts current market liquidations at $248.52 million in the last 24 hours, a trend that “rejects” short traders.
Current settlement data
According to current market data, the total Bitcoin liquidation over the last 24 hours is now pegged at $75.79 million, with long and short liquidations of $20.36 million and $55.43 million, respectively.
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Ethereum ranked as the second most liquidated coin, with a total of $29.02 million liquidated. An intriguing discovery was made in the current settlement ecosystem, with the top three meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE, significantly accounting for a total of $38.23 million.
While Bitcoin was the most liquidated digital currency, the largest single liquidation amounts to $2.45 million. The top exchanges that recorded the most liquidations include Binance, with a total liquidation valuation of $99.07 million.
According to the trend observed since
With a likely rise to $1 million not ruled out by veterans like Samson Mow, the Bitcoin spot ETF is named by industry experts as the key catalyst driving the coin’s price, with a strong supply shock visible.
Overall, the short supply of the spot Bitcoin ETF and the deflation that the upcoming halving will introduce will help drive a new price discovery that will surpass the previous ATH above $68,700.
