In the past 24 hours, a large-scale short position liquidation has occurred in the cryptocurrency market.
According to the currently aggregated data, short positions accounted for a higher proportion of the liquidated positions, showing a unique pattern.
Binance experienced the most position liquidations in the past 4 hours, with a total of $12.04 million (31.86%) liquidated. Among these, short positions accounted for $8.83 million, or 73.37%.
Bybit was the second-highest exchange with liquidations, with $11.92 million (31.54%) of positions liquidated, of which short positions were $10.15 million (85.17%).
OKX saw approximately $6.92 million (18.31%) in liquidations, with a high short position ratio of 80.76%.
Notably, HTX showed an extremely high short position liquidation rate of 96.27%, and in the case of BitMEX, all liquidated positions were short positions (100%).
By coin, Ethereum (ETH) recorded the most liquidations. Approximately $80.03 million in Ethereum positions were liquidated in 24 hours, with $34.74 million in long positions and $45.29 million in short positions liquidated in 4 hours. Ethereum's price rose 2.98% to $2,503.51 in 24 hours.
Bitcoin (BTC) had approximately $59.72 million in positions liquidated in 24 hours, with $16.49 million in long positions and $43.23 million in short positions liquidated in 4 hours. Bitcoin's price is trading slightly up 0.23% at $107,545.2.
Solana (SOL) saw about $21.72 million liquidated in 24 hours, and among other major altcoins, XRP experienced significant liquidations of $11.66 million. Solana and XRP prices rose by 3.87% and 5.16%, respectively.
Doge saw a price increase of 1.92%, with balanced liquidations of $2.55 million in long positions and $2.52 million in short positions over 4 hours.
Notably, PEPE and WIF tokens stood out. PEPE experienced a 2.85% price increase with $1.22 million in long positions and $2.53 million in short positions liquidated over 4 hours, while WIF saw a 5.73% price increase with $1.08 million in long positions and $2.41 million in short positions liquidated.
Additionally, the 1000PEI Token saw a 2.83% price increase with a total of $5.17 million in positions liquidated over 4 hours.
This large-scale short position liquidation reflects the overall upward trend in the cryptocurrency market, with the price rebounds of major altcoins leading to losses for short position investors. Market participants need to pay attention to whether the current upward momentum will continue.
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