|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Cryptocurrency Sector Experiences Significant Liquidations as Bitcoin and Other Digital Assets Continue to Show Volatility
Sep 20, 2024 at 02:55 pm
Following news of the US Federal Reserve's decision to cut back on interest rates, Bitcoin made a considerable recovery, climbing above the $63,000 mark.
As Bitcoin and other digital assets continue to display volatility, data shows that the cryptocurrency sector has faced significant liquidations.
The news of the US Federal Reserve cutting back on interest rates helped propel Bitcoin to a strong recovery, rising above the $63,000 level. Notably, Bitcoin's performance in the last 24 hours has been impressive, showcasing a remarkable 5% surge, bringing it closer to the highest levels seen in August.
This positive momentum in Bitcoin has had a beneficial impact on the wider cryptocurrency market. Several altcoins, including Solana (SOL) and Avalanche (AVAX), have outperformed Bitcoin, contributing to the broader market surge.
However, this market volatility has created turbulence in the derivatives sector, leading to extensive liquidations. According to CoinGlass data, the cryptocurrency derivatives market saw $201 million in liquidations over the past 24 hours. In this context, “liquidation” refers to the mandatory closure of an open contract once a specific loss percentage is reached.
The figures show that short contracts dominated these liquidations, accounting for about $147 million, which is nearly three-fourths of the total. This trend is to be expected, considering the significant price increases for Bitcoin and other assets during the period.
Such mass liquidation events, often known as “squeezes,” are relatively common in the highly speculative and volatile world of cryptocurrencies. The recent surge resulted in a “short squeeze,” where short investors were forced to close their positions.
Breaking down the liquidations by individual digital assets, Bitcoin led the way with $78 million in liquidations, more than double the $36 million registered by Ethereum, which came in second. Solana followed, with $11 million in liquidations, trailing behind the leading two.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- $ALCX Airdrop Step-by-Step Guide: How to qualify for ALCHEMIX Airdrop?
- Sep 20, 2024 at 06:25 pm
- Redeeming your blockchain $ALCX tokens is simple! Just go through these quick steps and instantly use your tokens right away.
-
- European Commission Opens Proceedings to Enforce Apple's Compliance with the Digital Markets Act (DMA)
- Sep 20, 2024 at 06:25 pm
- The European Commission recently opened two proceedings to enforce Apple's compliance with interoperability regulations set out by the Digital Markets Act (DMA).
-
- BLUR's Monthly Token Unlocking Event Releases $6.94M Worth of BLUR Tokens
- Sep 20, 2024 at 06:25 pm
- BLUR's monthly token unlocking event has come around once again, with 39.46 million BLUR tokens, valued at $6.94 million, unlocked and transferred from the Blur unlocking contract to the 0x0A0 multi-signature address just 7 hours ago.
-
- UNI Early Investor Transfers $17M Worth of Tokens to Coinbase, Sparking Speculation
- Sep 20, 2024 at 06:25 pm
- Just an hour ago, the address sent 1.19 million UNI to the exchange, valued at $8.01 million.
-
- Celo Surpasses TRON in Daily Active Stablecoin Addresses, Signaling Africa's Stablecoin Breakout
- Sep 20, 2024 at 06:25 pm
- This week at @Token2049, the Celo Foundation and cLabs are making headlines as Celo's daily active stablecoin addresses recently surpassed those of @trondao.
-
- Claim $STRAX Like a Pro — Fast!
- Sep 20, 2024 at 06:25 pm
- Did you qualify for Stratis Airdrop?
-
- Dormant Bitcoin (BTC) Miner Wallets From the 'Satoshi Era' Suddenly Wake Up to Move $15M
- Sep 20, 2024 at 06:25 pm
- Several Bitcoin (BTC) miner wallets that have been dormant for over 15 years suddenly woke up and have moved 250 BTC worth over $15 million.
-
- Whale Activity Spikes for FTM, IMX, and BAT Following the Fed's Interest Rate Cuts
- Sep 20, 2024 at 06:25 pm
- The recent interest rate cuts by the Federal Reserve have triggered a surge in whale activity for key altcoins like Fantom (FTM), Immutable X (IMX), and Basic Attention Token (BAT), according to Santiment, a leading market intelligence platform.
-
- The Decentralized AI Society Launches to Ensure AI Serves Humanity's Broad Interests
- Sep 20, 2024 at 06:25 pm
- Crypto and Web3 industry leaders launched the Decentralized AI Society (DAIS), an umbrella organization helping builders of decentralized learning models, data providers, hardware suppliers and advocates of safe and beneficial AI to collectively ensure that artificial intelligence serves humanity's broad interests rather than a select few tech giants.