In the past 24 hours, a large-scale position liquidation has occurred in the cryptocurrency market. Particularly, short position liquidations were prominent.
According to the currently aggregated data, in the 4-hour liquidation data by exchange, Binance had the highest liquidation at $8.59 million, of which short positions accounted for $5.85 million, or 68.1%.
At Bybit, $5.77 million in liquidations occurred, of which $4.61 million (79.94%) were short positions. At OKX, out of $2.87 million in liquidations, $1.87 million (65.13%) were short positions.
At Gate, $1.68 million in positions were liquidated, and at HTX, approximately $426,000 in liquidations occurred. Both exchanges had higher short position liquidation rates at 58.49% and 56.56%, respectively, compared to long positions.
CoinEx, although with a small liquidation scale (about $61,000), showed an overwhelming short position liquidation rate of 95.51%. In contrast, at BitMEX, a small-scale liquidation (28,000 dollars) was 100% long positions.
By coin, Ethereum (ETH) had the highest liquidation at approximately $21.93 million in 24 hours. On a 4-hour basis, long positions were $1.02 million, and short positions were $4.59 million, with short position liquidations being predominant.
Bitcoin (BTC) had $11.13 million in positions liquidated in 24 hours, and on a 4-hour basis, long positions were $876,000, and short positions were $2.81 million, with short position liquidations also being more numerous.
Solana (SOL) had $3.99 million in liquidations in 24 hours, and on a 4-hour basis, long positions were $33,000, and short positions were $669,000, with short position liquidations being overwhelming.
Notably, FARTCOIN experienced a large-scale liquidation of $3.16 million in 24 hours, with its price dropping 11.93% in the same period. On a 4-hour basis, approximately $420,000 in liquidations also occurred.
Additionally, the HYPE Token saw $1.55 million in liquidations in 24 hours, accompanied by a 7.24% price drop, with $286,000 in positions liquidated on a 4-hour basis.
Doge (DOGE) slightly decreased by 0.50% but had $956,000 in liquidations in 24 hours, with positions worth $190,000 (mostly short positions) liquidated on a 4-hour basis.
The Trump Token also experienced $188,000 in liquidations in 24 hours, along with a 0.78% price drop.
This liquidation data shows an increasing pressure on short positions in the recent cryptocurrency market, particularly suggesting the possibility of large-scale short squeezes in Ethereum and Bitcoin. This can be interpreted as a signal that the market may continue its upward momentum.
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