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Cryptocurrency News Articles
Bitcoin (BTC) Has Set a New Record Above $75,000 Today, Derivatives Market Has Just Seen $574 Million in Liquidations
Nov 07, 2024 at 08:00 pm
The moment Bitcoin investors have been waiting for these past few months has finally happened, as the number one cryptocurrency has set a brand new price
The cryptocurrency derivatives market has undergone a large amount of liquidations following Bitcoin’s rally to its new all-time high (ATH).
In total, $574 million worth of cryptocurrency positions have undergone this process in the last 24 hours. Out of these, almost $385 million of the liquidations have involved short contracts. This represents 67% of the total, which, while still an obvious majority.
More than $189 million in longs still managing to get liquidated through the positive price action suggests that a lot of these positions were opened at the Bitcoin top.
In terms of the contribution from the individual symbols, Bitcoin has unsurprisingly occupied the largest share with nearly $275 million in liquidations.
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