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Bitcoin, Altcoins Price Decline As Crypto Liquidations Near $900 Million In The Past Day

The crypto market took an unexpected hit on April 12 as a spontaneous decline in the price of Bitcoin and prominent altcoins resulted in massive liquidations. The origin of this widespread price dip remains largely unknown, among a plethora of plausible reasons, including a recent price correction in the US stock markets.

Almost $500 Million Liquidated In An Hour Amidst Crypto Flash Crash

According to data from CoinMarketCap, Bitcoin slipped by 4.49% in the last day, falling as low as $66,052. As expected, BTC’s decline reverberated through the market, with prominent altcoins Ethereum and Solana recording daily losses to the tune of 8.12% and 12.16%, respectively

As earlier stated, these losses translated into 277,843 traders losing their leverage positions as total crypto liquidations reached $877.21 million in the last 24 hours based on data from Coinglass. Of these figures, long positions accounted for $782.98 million, with short traders losing only $94.24 million.

Notably, $467 million in leverage positions were closed within an hour as a result of a general price decline. The highest amount of liquidations at $369.85 million was recorded on Binance, while the single largest liquidation order valued at $7.19 million occurred in the ETH-USD market on the OKX exchange.

Bitcoin
Source: Coinglass

Interestingly, Bitcoin’s price decline correlated with a dip in the US stock market as the S&P 500 index declined by 1.6% to trade as low as $5,108. This market crash was preceded by recent CPI data, which showed that the inflation rate rose to 3.5% year over year in March.

Such reports only indicate that the US Federal Reserve (Fed) could not be implementing any rate cuts soon as it aims to force inflation down to its annual target of 2%. This prediction is quite bearish for the crypto market generally as Fed rate cuts allow investors to comfortably seek risky assets such as BTC with a potential of high yields.

Bitcoin Experiences Network Growth As Halving Approaches 

On a more positive note, Bitcoin has recorded a rise in non-empty wallets on its network ahead of the Halving event on April 19. Blockchain analytics platform Santiment reported an increase of 370,000 BTC wallets holding active coins over the last six days. Interestingly, the analytic team is backing investors to maintain this accumulative trend all through the Bitcoin halving event.

At the time of writing, Bitcoin was trading at $66,882, with a 44.80% increase in its daily trading volume, which is currently valued at $43.80 billion. However, Bitcoin’s price has generally been unimpressive in recent times, with a decline of 1.33% and 6.20% in the last seven and 30 days, respectively. 

BitcoinBitcoin trading at $66,499.00 on the daily chart | Source: BTCUSDT chart on Tradingview.com

Featured image from The Independent, chart from Tradingview

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Bitcoin Rockets Past $69,000: Over 60k traders Caught In $200 Million Total Liquidations

The cryptocurrency market recently witnessed significant liquidations, totaling over $200 million, as Bitcoin surged past the $69,000 mark.

The Bitcoin price surge led to many short positions being liquidated, causing notable financial repercussions across various trading platforms.

Bitcoin’s Sudden Rebound And Liquidations

The data from Coinglass provide a clearer picture of the impact, showing that around 60,388 traders and counting faced losses exceeding $200 million in just 24 hours.

The distribution of these liquidations varied among the major exchanges, with OKX traders experiencing the highest losses at $81.19 million, narrowly surpassing Binance’s $80.40 million in liquidations.

Bybit and Huobi also reported significant figures of $18.98 million and $17.05 million in liquidations, highlighting the widespread effect of Bitcoin’s unexpected rally.

The resurgence of Bitcoin to over $69,000 was particularly noteworthy, given its position below $66,000 in the early hours of Monday. While the exact catalyst for this abrupt rise remains uncertain, it puts Bitcoin a few dollars in value away from reclaiming its previous all-time high of $73,000.

BTC price chart on TradingView

Analysts and traders are now closely watching the market for signs of Bitcoin’s next move, with speculation about the potential for new record highs in the near term.

Crypto market liquidations heatmap.

Looking Ahead: Bitcoin Bullish Prospects

Crypto analyst Cryptoyoddha has provided an optimistic outlook for Bitcoin’s future, suggesting that the cryptocurrency is on the cusp of entering a new phase of its cycle that could see it reaching unprecedented heights.

According to Cryptoyoddha, Bitcoin’s historical pattern of accumulation, followed by a parabolic surge, sets the stage for what he terms “Cycle IV,” a period that could potentially elevate Bitcoin’s value to $150,000 or more.

According to the analyst, factors such as increased institutional investment, evolving regulatory clarity, and growing public acceptance of digital assets are key drivers of this bullish sentiment.

Meanwhile, Bernstein analysts Gautam Chhugani and Mahika Sapra recently updated their forecast for Bitcoin’s year-end price, elevating it from an initial $80,000 to $90,000.

This adjustment was prompted by notable factors such as the robust inflow into Spot Bitcoin ETFs and earnings from mining activities, which have contributed to a more optimistic outlook on Bitcoin’s valuation.

Additionally, they maintained that Bitcoin is on track to reach $150,000 by mid-2025, attributing this anticipated growth to several elements, including the impact of Spot Bitcoin ETFs, which they expect to drive a significant upswing in the cryptocurrency’s price.

Similarly, Standard Chartered has revised its prediction for Bitcoin’s end-of-year value. Moving beyond their original estimate of $100,000, the institution now suggests that Bitcoin could ascend to $150,000 by year’s end, citing the catalytic role of Bitcoin ETFs in fostering their positive outlook on the asset’s future performance.

Featured image from Unsplash, Chart from TradingView

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Glassnode Co-Founder Warns: Bitcoin’s Surge Could Trigger A $1 Billion Liquidation Event – Here’s Why

A notable perspective recently came from the Glassnode co-founders Jan Happel and Yann Allemann, Negentropic on X, who recently shared insights into Bitcoin price dynamics. Notably, the analysts highlighted liquidity as a crucial factor for Bitcoin’s price trajectory.

Bitcoin Market On The Brink Of Spike In Volatility

Negentropic revealed that BTC’s recent ascent above $42,200 has created a significant liquidity pool for long positions, marked by a “neutral impulse” in the market.

This trend indicates that Bitcoin aims to bridge the liquidity gap above the $42,000 mark, which hints at potential volatility and significant market changes.

So far, about $659 million in liquidations have taken place,  leading Negentropic to predict that continuing the bullish momentum could trigger liquidations worth $1 billion in short positions.

This scenario could catalyze a market uplift through a “short squeeze,” a rapid price increase forcing short sellers to exit their positions. Such market movements often result in dramatic shifts, providing a fertile ground for Bitcoin’s growth.

Meanwhile, in a post uploaded last week, Negentropic linked the burgeoning liquidity in the crypto market to China’s efforts to stabilize its markets by injecting substantial liquidity. According to the Glassnode co-founder, this development could serve as a crucial catalyst for crypto like Bitcoin and equity markets as we progress into the first half of 2024.

This perspective aligns with the broader market recovery, as Bitcoin shows signs of resurgence following reduced selling pressure, particularly from the Grayscale Bitcoin Trust (GBTC).

Bitcoin trades for $43,166, up 6% in the past week. However, despite this uptick, the asset’s daily trading volume remains subdued, down from $26 billion last Monday to $14 billion today, indicating a cautious market sentiment.

Bitcoin (BTC) price chart on TradingView

BTC Bullish Signals Strengthen

Amid these market developments, bullish forecasts continue to emerge. Crypto analyst Jelle recently suggested that with Bitcoin reclaiming the $42,000 level, it might be “time to focus on longs once again.”

Echoing this sentiment, Michael van de Poppe, a prominent crypto analyst and pundit, expressed optimism in his latest YouTube video. He argued that the recent price correction in Bitcoin might have reached its conclusion.

Further supporting the bullish sentiment, Ali’s chart analysis reveals an increase in large Bitcoin holders. An additional 46 entities now possess 1,000 BTC or more, a 3% rise in just two weeks.

Featured image from Unsplash, Chart from TradingView

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Crypto Futures Razed To Ground As $659 Million Rekt With Bitcoin Crash

Data shows the cryptocurrency futures sector has gone through a mass liquidation event in the past 24 hours as Bitcoin has witnessed a sharp crash.

Crypto Futures Liquidations Have Added Up To $659 Million In Past Day

The cryptocurrency market has seen sharp price action during the past 24 hours. As is usually the case during such volatility, chaos has occurred on the futures side of the sector.

According to data from CoinGlass, almost $660 million in futures contracts have found liquidation on the last day.

Bitcoin & Crypto Liquidations

“Liquidation” here naturally refers to the process that any contract undergoes when it racks up losses equivalent to a specific percentage of the position (which may differ between platforms). The exchange has to close it forcibly.

The above table shows that the longs took the brunt of this liquidation flush, as they saw contracts worth about $568 million decimated. This equals about 86% of the total liquidations in the past day.

The forceful closures have been so lopsided due to the sector observing a sharp drawdown following Bitcoin’s crash that took its price to as low as $41,500.

It’s also visible in the table that about $613 million of the total liquidations came during the last twelve hours alone, which again lines up with price action as that’s when the market was most volatile.

Regarding the individual contributions from each of the different symbols, it’s no surprise that Bitcoin-related contracts occupied the largest share of the liquidations at about $148 million.

Bitcoin Futures

Generally, though, BTC makes up for a huge part of the total market liquidations, but this time, the asset’s percentage share isn’t too extraordinary. Ethereum (ETH) and Solana (SOL) are the next biggest contributors to the squeeze, with about $111 million and $34 million in liquidations, respectively.

Historically, mass liquidation events like the one seen today haven’t exactly been a rare sight in the cryptocurrency sector due to the high volatility that most coins display on the regular and extreme amounts of leverage being easily accessible in many exchanges.

Recently, the interest in the derivatives side of the sector has become especially pronounced, as CryptoQuant Netherlands community manager Maartunn has talked about in a recent post on X.

Bitcoin Spot & Futures Volume

As displayed in the graph, the Bitcoin futures volume has generally been higher than the spot volume during the last few years, but the gap between the two especially widened during the second half of 2023.

The indicator’s value saw some decline in the last couple of months of the year, but the recent values of the metric have still been quite high compared to the norm in the past.

Bitcoin Price

Bitcoin has seen some recovery since its initial crash, as the asset is now trading around the $42,700 mark.

Bitcoin Price Chart

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Market Jolt: Bitcoin Falls Below $42,000 As Short Term Holders Rush To Cash In

Bitcoin is currently witnessing a decline in price, with its value dropping below the $42,000 mark. This movement comes on the heels of a significant uptick in the circulating supply of profitable Bitcoin, prompting a wave of profit-taking among investors.

ETC Group’s Head of Research, André Dragosch, highlights this trend, noting an increase in Bitcoin being moved to exchanges for potential sale. Dragosch noted, citing data from Glassnode:

Overall exchange balances for bitcoin have clearly picked up, implying a net inflow of coins to exchanges over the past week. More specifically, around +14k BTC have flown into exchanges on a net basis according to data provided by Glassnode. This will likely exert some downside pressure on prices in the short term.

Bitcoin Short-Term Holders Drive Selling Pressure

According to the ETC Group, the current market scenario presents a landscape where a substantial portion of Bitcoin and Ethereum addresses are profitable. Data from the firm indicates that 88.3% of BTC addresses and 77.6% of ETH addresses are currently profitable, figures hovering near the highest for the year.

This environment of a high percentage of BTC and ETH addresses being in a state of profit has seemingly encouraged a segment of investors, particularly those with a short-term investment perspective, to capitalize on their gains, as indicated by the ETC Group’s analysis.

The ETC group further revealed that these short-term investors, defined as those who have held Bitcoin for less than 155 days, have been transferring their profitable assets to exchanges at a rate not seen since July of this year.

This surge in selling pressure is attributed to a key factor restraining the Bitcoin rally as the market adjusts to the increased availability of the cryptocurrency.

Further illustrating the market’s reaction, the past week marked the first instance of “net outflows” from crypto asset exchange-traded products (ETPs) since early October.

The total amount of these outflows was approximately $18.2 million, with Bitcoin ETPs experiencing the majority of these withdrawals, totaling $13.1 million. In contrast, Ethereum ETPs saw a “net inflow” of $5.8 million, suggesting a diverging investor interest between the two leading crypto.

Market Impact And Trader Liquidations

The recent decline in Bitcoin’s price from its previous high of around $44,000 has impacted investor sentiment and resulted in significant trader liquidations. According to data from Coinglass, over the last 24 hours, there have been 115,873 trader liquidations, culminating in roughly $424.67 million in total liquidations.

Bitcoin has led these liquidations, with $105.51 million in long liquidations and $14.95 million in short liquidations. Ethereum follows closely, accounting for $78.53 million in long and $7.41 million in short liquidations.

It is worth noting that these liquidations and the fluctuating market dynamics underscore the division of trader’s fate in the crypto market. While some investors seize the opportunity to realize profits, others face the challenges of rapid market shifts.

Bitcoin (BTC) price chart on TradingView

Featured image from Unsplash, Chart from TradingView

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$113 Million In Longs Get Rekt As Bitcoin Plunges Back To $34,000

Data shows the cryptocurrency longs have taken a beating today because of the plunge towards $34,000 that Bitcoin has observed.

Cryptocurrency Futures Market Has Seen Liquidations Totaling $137 Million Today

According to data from CoinGlass, a large amount of liquidations have taken place in the cryptocurrency futures market during the past day. “Liquidation” here refers to a forced closure of a futures contract being done by the derivative contract with which said position is open.

A contract is liquidated when it amasses losses equal to a certain percentage of the margin (that is, the initial collateral that the holder had put forth when opening the contract).

As it’s easy for traders’ bets to fail during volatile periods, it’s not surprising that the volatility from the past day has induced liquidations throughout the market. The below table shows the data for the liquidations that have occurred in the sector during the last day.

Crypto and Bitcoin Liquidations

As you can see, the cryptocurrency futures market has seen liquidations amounting to about $137 million in the past day. Out of these, around $113 million of the contracts were long positions.

This means that more than 82% of the liquidation flush in this period has involved the long holders. This is consistent with the price action, as most of the liquidations have been triggered by a plunge in the Bitcoin price from above $35,400 to the $34,000 mark.

Such large liquidation events are popularly called “squeezes.” Since the squeeze from the last 24 hours has seen the longs on the losing side, the event was a “long squeeze.”

As the below table displays, Bitcoin-related contracts have unsurprisingly contributed the most towards this latest squeeze.

Bitcoin Flush

Bitcoin saw $40 million in futures liquidations, while Ethereum registered almost half of those at $21 million. Out of the altcoins, Solana (SOL) observed the highest liquidations.

SOL has seen a bit of an explosion recently, so it’s not unexpected that it has attracted a large amount of speculators towards it. As a natural consequence of this higher interest in the cryptocurrency, its liquidations have been more than the other altcoins.

Mass liquidation events like today’s aren’t exactly a rare occurrence in the cryptocurrency sector, due to extreme amounts of leverage being easily accessible and the volatility that most of the coins witness on the regular.

It would appear that today’s liquidation squeeze has been unable to put off speculators, as the Bitcoin open interest (a measure of the total amount of contracts open on the futures market) is still at high values.

Bitcoin Open Interest

As such, it’s possible that Bitcoin will see more volatility in the near future and with it, another liquidation squeeze.

Bitcoin Price

Following its drop of more than 3%, Bitcoin is now trading around the $34,200 level.

Bitcoin Price Chart

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Liquidations Cross $200 Million Following Bitcoin’s Rise Above $19,000

The last 24 hours have been filled with twists and turn for the crypto market but one thing that is important is that bitcoin crossed $19,000. This would be the first time that the digital asset would be reaching this price since the FTX collapse triggered another market downturn. However, as always, such sudden movements in the market would lead to liquidations, and traders are feeling the heat.

Crypto Liquidations Cross $200 Million

Over the last day, liquidations have ramped up, seeing more than $200 million in losses for traders. This was a result of the bounce following the CPI data release, and then the subsequent corrections which happened just as fast.

Since the CPI data had come in exactly as expected at 6.5%, it meant that there was a flush between shorts and longs, and this flush is also present in the ratio of liquidations. Data from Coinglass shows that while short traders are still suffering the most losses, the gap with longs is not that wide as shorts made up 58% of the losses.

Total crypto market liquidations

Still, this is significant in the market and if bitcoin were to continue its upward rally, then it is likely that the gap between long and short losses would become much wider. 

It is also important to note that most of the liquidations actually happened on Thursday, only a couple of hours after the CPI release. Over 39,000 traders have seen their positions liquidated with the largest single liquidation event happening on the ETH-USDT-SWAP on the OKX exchange.

Bitcoin, Ethereum Tie For Liquidations

On a 24-hour period, the bitcoin liquidations have surpassed that of Ethereum but ever so slightly. Where 4,230 BTC have been liquidated, culminating in a total loss of $79.56 million over the time period, 51,000 ETH has been liquidation, worth $71.79 million.

As the bitcoin price looks to have settled into support above $18,000 over the last 12 hours, ETH liquidations have taken the lead with $9.08 million lost so far compared to BTC’s $8.23 million for the same time period. There have been more swings in ETH’s price during this time, which is the driving force behind more liquidations.

Ethereum surpass bitcoin liquidations

Since bitcoin has now moved above its 50-day moving average but continues to struggle with its 100-day MA, there could be some more wild swings to come before the crypto market finally settles. From here, it is likely to be an upward swing before a correction back into the $17,000 territory.

BTC is currently trading at $18,800 at the time of this writing. Its up 4% in the last 24 hours and 12.12% in seven days.

Bitcoin (BTC) price chart from TradingView.com

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Crypto Market Liquidations Reach $830 Million, When Will It Stop Bleeding?

Crypto liquidations across the market have ramped up in the last 24 hours. Digital assets in the space suffered declines in the last day, which has led to hundreds of millions of dollars being wiped from traders. These liquidations span the entire crypto market with hundreds of thousands of traders getting caught in one of the worst liquidation events of 2022.

$830 Million Shaved Off Crypto Market

In the space of 24 hours, there have been more than $830 million in liquidations recorded across the crypto market. It marks the second-largest liquidation event recorded so far in 2022, only coming out slightly under the October liquidation numbers.

Naturally, given that the price of digital assets across the space has been in decline, long traders have suffered the worst of the liquidations. Over 70% of the liquidation numbers have come from long traders. More than 33% of these volumes were recorded on the Binance crypto exchange with FTX following closely behind at 21.77%.

Crypto liquidations

Liquidations cross $830 million | Source: Coinglass

A total of 392,043 traders have been liquidated in the one-day period with the largest single liquidation order taking place on the Binance exchange. The trade was placed on the BTCUSDT pair on the exchange and was worth $6.70 million.

Crypto total market cap chart from TradingView.com

Total market cap falls to $832 billion | Source: Crypto Total Market Cap on TradingView.com

Loss Leaders In 24 Hours

In any liquidation event, digital assets such as Bitcoin and Ethereum always lead the pack. However, the decline of the FTX crypto exchange has brought about some strong contenders during this time. The crypto exchange which recorded the second-largest liquidation volumes saw its native token FTT suffer significant losses.

Over the 24-hour period, there have been 5.75 million FTT tokens liquidated worth $26.6 million. This makes it the token with the fourth-largest liquidation volumes, coming right behind Solana (SOL) which FTX also had exposure. 3.26 million SOL worth $53.66 million had already been liquidated at the time of this publication.

Even with almost $1 billion in liquidations already, there doesn’t seem to be an end to the bloodbath just yet. Bitcoin has once again fallen to the $17,000 level, still holding above the previous cycle low of $17,600, but with no support building up. Any wild movements similar to what was experienced on Tuesday could easily bring the liquidation figures up to $1 billion.

Featured image from Bitcoinist, chart from TradingView.com

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Bitcoin’s Break Above $20,000 Sees Market Liquidations Cross $1 Billion

Tuesday has proven to be a good day for bitcoin and the crypto market in its entirety as gains have been the order of the day. Bitcoin has finally been able to clear the $20,000 territory even when indicators pointed towards the more sluggish movement for the digital asset. As expected, there have been ripple events from the gains in the market. Liquidations are now the order of the day and short traders are getting the ‘short’ end of the stick.

Crypto Liquidations Cross $1 Billion

The crypto market has now recorded its worse liquidation trend so far in 2022. Bitcoin’s recovery above $20,000 was swift and the liquidations were just as fast. The result of this is more than $1 billion being liquidated across the crypto market in the last 24 hours.

Given the recovery, short traders have suffered the worst of it. Data from Coinglass shows that over 87% of all liquidations recorded in the past day have been from short traders. This means that short traders have lost more than $700 million in a single day.

Amid this, FTX exchange recorded the largest liquidation event in history with more than $700 million liquidated on the crypto exchange. This puts the majority of the market liquidations on FTX (74.7%) with all other exchanges making up about 25% of the remaining figure.

Bitcoin and crypto liquidations

24-hour liquidations cross $1.1 billion | Source: Coinglass

Approximately 156,000 traders were caught in the crossfire of this bloody trading day. The largest single liquidation was recorded on the Okex – ETH-USDT-SWAP pair for a total of $3.05 million. Total market liquidation values now sit at $1.12 billion at the time of this writing.

Bitcoin Gearing Up For More

Bitcoin has landed in the mid-$20,000s after the current rally but the digital asset does not seem to be done yet. The recovery put it firmly above its 50-day moving average, which cements its short-term bull trend.

Additionally, the correlation with the stock market remains high and bitcoin is bound to follow the performance of its largest counterpart. If the current positive sentiment across the financial market continues, then it is possible that BTC would test the $21,000 resistance before the close of the trading day on Wednesday.

Bitcoin price chart from TradingView.com

BTC price at $20,600 | Source: BTCUSD on TradingView.com

High inflation rates across the world are also triggering investors’ move to bitcoin. Forecasts have put countries around the world at even higher inflation rates going into the end of the year, which could paint a bull picture for cryptocurrencies going forward.

BTC is currently trading at $20,600 at the time of this writing. It is up 6.98% in the last 24 hours and has a current market cap of 396 billion. It has also seen $61.7 billion in trading volume, a 136% increase in the last day.

Featured image from ITPro Today, chart from TradingView.com

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Fed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million

The FOMC meeting held on Wednesday and its subsequent results deeply affected the state of the crypto market. Given the large swings in price during and after the meeting, liquidation volumes had quickly risen across the market. Tens of thousands of traders were caught in the crossfire in what has come out to be the largest liquidation trend in the last few months. 

Crypto Liquidations Reach $330 Million

On Wednesday, the Fed had announced that it was raising interest rates by another 0.75 points. This decision directly impacted the crypto market as well as the broader macro markets, causing the price of bitcoin to plummet about 8% before a swift recovery.

The decline triggered massive liquidations across the market. By Thursday, the total liquidation in the crypto market had crossed $330 million, with more than 88,000 traders affected. Given the decline, long traders had obviously suffered the most, but since the price had seen sharp recoveries too, short traders were also hit heavily. 

Liquidations cross $330 million | Source: Coinglass

Of the $336 million in liquidations recorded in the last day, 58.96% were from long traders, meaning $138.13 million were from short liquidations. The largest single liquidation came from the Okex exchange, with a single trade worth $3.13 million across the BTC-USDT-SWAP pair.

Ethereum Takes The Lead

In recent times, the focus has been on Ethereum after the digital asset had successfully upgraded from proof of work to proof of stake. This increased attention has amplified the performance of the cryptocurrency and its traders in recent times as well.

ETH liquidations made up almost half of the $336 million in liquidations recorded across the crypto market in a 24-hour period. With 117.73K ETH liquidated, it came out to a dollar value of $151.45 million during this time.

Market cap at $884 billion | Source: Crypto Total Market Cap on TradingView.com

In contrast, the leading cryptocurrency, Bitcoin, recorded a total of 5.50K BTC liquidated during this time period for a total of $105.31 million. This means that ETH liquidation volumes came out to about 50% more than that of BTC.

XRP was another token that saw massive liquidations, although to a lower extent compared to bitcoin and Ethereum. XRP saw $9.77 million in volume, while SOL and ETC reached $6.73 million and %5.61 million, respectively. All other cryptocurrencies saw liquidation volumes below $5 million.

Featured image from The World Economic Forum, chart from TradingView.com

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Crypto Downtrend Led Investors To Liquidate Over $432 Million

The overall financial market is discouraging this week. Stocks and cryptos are plummeting as anticipation of the upcoming rate hike grows. The latest CPI for August was a force that pushed the market towards the edge. 

The figure was higher than expected, increasing fear in the industry. As the Feds prepares to hit the market with the biggest rate hike, exchanges have started liquidating leveraged positions. This strategy is geared at cutting down losses as events unfold.

Related Reading: WATCH: Bitcoin Bloody Monday Leads To Reversal Hammer | BTCUSD September 19, 2022

Traders’ Positions Liquidated As The Market Panics 

Coinglass has disclosed the data of liquidations currently taking place across diverse exchanges. According to the data app, 130,087 traders have seen their positions liquidated.

The total amount has reached $431.51 million at the time of writing. Many crypto traders of Bitcoin and Ethereum were hit more in the ongoing frenzy. Bitcoin traders lost $44.5 million of their leveraged positions, while Ethereum traders lost $8.39 million in liquidations. 

Going by the positions, the longs took the lead while the short position holders followed suit. According to Coinglass, the amount between the two is 10X, and the highest liquidation so far occurred on Okex. 

Data shows that Okex liquidations amounted to $190.41, comprising $181.30million in long positions and $9.11 million in short positions. 

The following exchange with high liquidations after Okex is Binance. The exchange liquidated $77.49 million in long positions and $12.99 million in short positions, amounting to $90.48 million. 

Other top riders in a frenzy include FTX with $57.59 million in long and short positions and Bitmex with $28.78 million. There is also ByBit and Huobi, with $27.86 million and $18.91 million in total liquidations. 

Bitcoin is currently trading above $19,500. | Source: BTCUSD price chart from TradingView.com
Macro Factors Responsible For Market Downtrend

The price movement of assets this week has increased the uncertainty in the crypto market. Many cryptocurrencies are trading in red, with a double-digit downfall in the last 24 hours. The price crash has pushed the overall market capitalization below $1 trillion. 

Analysts are attributing the ongoing downtrend to many macroeconomic factors. The most prominent one is the CPI data that shocked everyone on September 13. The data was higher than the market expected, showing inflation still rages. 

The effect of the data was seen immediately after its release. The number one crypto, Bitcoin, lost $1000 within minutes. From then onwards, other crypto assets started shedding prices to the detriment of investors. 

Another factor seemingly pushing the4 market down is Ethereum Merge. After the upgrade, the crypto price plunged to $1300, leading to many people believing the predictions that it was overhyped. 

Related Reading: Ethereum Could Gain 10% Before ETH Resumes Its Reversal

Due to the high CPI data, the Fed’s meeting on September 21 is causing panic in the market. The market is waiting for the next interest rate hike, and pundits are already predicting a figure that hasn’t been seen in 40 years. The Feds might move to a 100-point after the meeting. 

Currently, both stocks and crypto are strongly bearish. After September 21, the market move might be more terrifying than what it is today, September 19.

Featured image from Pixabay and chart from TradingView.com

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More Than 125,000 Crypto Traders Liquidated, Here’s How Much They Lost

Over the last 24 hours, thousands of crypto traders have lost their positions in the market. The liquidations had ramped up, especially after the price of bitcoin had lost its footing above $19,000. It triggered one of the largest liquidations for the year 2022, with traders losing hundreds of millions of dollars in the span of a single day.

More Than 125,000 Trader Rekt

In the 24 hours following bitcoin’s decline to the $18,000 territory, more than 125,000 have had their positions liquidated. This amounted to more than $410 million that has been lost in the past day. Not surprisingly, the vast majority have been long traders who had been betting on the market seeing another recovery. Instead, the drop had caused a ripple effect across the market. 

According to data from Coinglass, a total of 126,632 traders had lost their positions during this time. The largest single liquidation had been recorded on the Bitmex exchange, where a single trade worth $10 million had been liquidated across the XBTUSD pair.

Of the $417 million in liquidations, 87.85% had come out as longs, leaving $52.38 million of shorts during this time. Over the last 12 hours, the liquidations have started to subside but still remain significant enough to cause panic in the market. 

Ethereum Leads Crypto Liquidations

Even though bitcoin had fallen below $19,000, sparking massive liquidations across the digital asset, it still comes short when compared to Ethereum. ETH had fallen to the $1,200 level at one point, and long traders had taken hit after hit in the market.

Where bitcoin’s liquidations had come out to around $121 million in the last 24 hours, Ethereum’s numbers were almost 40% more, with $161 million lost by traders. This meant that the trades had lost more than 122,000 ETH in just 24 hours.

Ethereum Classic, which tends to trail behind Ethereum the most, was also not spared in the liquidation trends. ETC saw more than 482,000 coins liquidation, translating to losses of $13.91 million during this time. It was just ahead of XRP, which saw $10.5 million in liquidations. 

All other cryptocurrencies had seen much fewer liquidations with less than $5 million lost. EOS, ETHW, SOL, and CHZ recorded liquidations of $4.92 million, $4.65 million, $4.29 million, and $4.27 million, respectively. LTC also made the top 10 list with liquidations of $3.6 million.

Featured image from CoinShark, chart from TradingView.com

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Crypto Traders Bleed Heavily After Betting Against Market

The past week has been an eventful one for crypto traders, regardless of whether they were making profits or losses off the market. Over the weekend, the crypto market had seen some dramatic weekend, and as another trading week opens up, short traders have drawn the ‘short’ stick once more.

Losses Reach $180 Million

Over the last day, losses have ramped up in the market as the recovery trend has continued. It had first begun toward the end of last week when bitcoin had made a remarkable recovery above $20,000, pulling the rest of the crypto market up with it. Short traders had promptly begun to bleed following this, but it seems that would not be the end of their woes.

The weekend would prove to be even more favorable for long traders had bitcoin made its way towards the mid $22,000s. In the wake of this, liquidations across the crypto market had ramped up, leaving tens of thousands of traders in losses.

Liquidation volumes had reached as high as $180 million in the 24-hour period, as short traders suffered the most. Over the last 4 hours alone, liquidations across the market have crossed $25 million, the majority of these being short traders (73.29%).

Market cap recovers above $1 trillion | Source: Crypto Total Market Cap on TradingView.com

A total of 48,510 traders had been rekt at this time. The largest single liquidation event for the time period took place on the Okex exchange across the BTC-USDT-SWAP pair. This single trade saw a total of $3.41 million liquidated.

Bitcoin Leads Crypto Losses

Given bitcoin’s recovery in the last couple of days, it is no surprise that the digital asset has seen more liquidations associated with it. While the crypto market’s total liquidation crossed $180 million, bitcoin accounted for about 40% of that, with $80 million in volume. 

Interestingly, the majority of the liquidations had been recorded in the last 12 hours alone, where bitcoin had seen liquidations of $66.24 million and the broader crypto market was sitting at $120 million. 62.15% of these have been from short traders. 

Other digital assets which have seen notable liquidations in the last day include Ethereum at $49.51 million, Ethereum Classic at $7.12 million, LUNA at $5.64 million, and Solana at $4.11 million. APE, NEAR, and CEL saw $2.06 million, $1.996 million, and $1.92 million, respectively.

Bitcoin’s price seems to have found a point to settle right above $22,000, which has put a stop to the liquidations. However, if there are any more wild movements, then there are likely to be higher liquidation volumes from here.

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Liquidations Cross $230 Million As Ethereum Barrels Past $1,400

Ethereum has been in recovery mode since developers announced a possible date for the Merge. Since this date is close, it has sparked a lot of positivity among community members who looking forward to the leading smart contracts platform’s move to proof of stake. This recovery has since triggered a liquidation event that has in no way slowed down as almost 90,000 traders have watched their positions liquidated.

Ethereum Liquidations Ramp Up

The recent recovery trend has seen the price of Ethereum rise above $1,400 towards a new one month high. In its wake, it has left a trail of blood mostly comprised of the positions of short traders. These traders had been betting against the digital asset’s ability to recover and are suffering now that it has exceeded everyone’s expectations.

Related Reading | Bitcoin Price Spends Four Weeks At 2017 Peak Prices, What Comes Next?

In the last 24 hours, Ethereum has recorded the largest liquidations of any cryptocurrency. This is because the asset’s recovery has been one of the most prominent in this time period. Data from Coinglass shows that ETH traders have seen more than $230 million in liquidations, the majority of which have been short traders. 

Liqudations ramp up | Source: Coinglass

The crypto market in its entirety is now close to $400 million in liquidations in the last day at the time of this writing. A total of 86,525 traders have been liquidated with the largest single liquidation happening across the ETH-PERP pair on the FTX crypto exchange.

ETH Is Not Stopping

Ethereum’s price is gearing up to test an incredibly important price level at the time of this writing. The cryptocurrency has now cemented its position above its 20-day moving average and the next stop is $1,500, despite singnificant resistance mounting up at this level.

ETH price recovers above $1,400 | Source: ETHUSD on TradingView.com

Testing $1,500 is important to Ethereum for two reasons. Not only is this the major resistance in its campaign to $1,700, it is also a test of the digital asset’s ability to break through the 50-day hurdle. Staying above this point is important for ETH if it is to continue its bull rally.

Related Reading | Short Liquidations Climb As Bitcoin Recovers Above $20,000

Ethereum’s recovery is also helping to turn the sell sentiment, albeit in the short-term. For the longer term, the digital asset would have to hold abide $1,500 and turn this resistance point to a support level. Otherwise, its hold on the $1,400 remains shaky.

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Short Liquidations Climb As Bitcoin Recovers Above $20,000

Bitcoin had lost its footing above $20,000 at the start of the week, sparking uncertainty among investors who had previously believed that the price of bitcoin was in a recovery trend. This decline saw more sell-offs in the space, albeit to a lesser extent than previously recorded. With the digital asset now starting on another recovery trend though, traders who had bet against its ability to move upward are finding themselves in very unpleasant situations.

Bitcoin Short Traders Suffer Losses

Bitcoin had begun to recover just after the CPI had shown that the United States inflation rate had hit a new 40-year high. At 9.1%, it was the highest number ever recorded since 1981 and this had prompted investors to look to other alternatives for protecting their wealth from being eaten into by inflation. The result had been an influx of new money into the bitcoin market.

Related Reading | Bitcoin Price Spends Four Weeks At 2017 Peak Prices, What Comes Next?

The recovery had seen a lot of traders who had bet against bitcoin suffering losses. Data from Coinglass shows that in the last 24 hours, almost $200 million in liquidations have been recorded and the majority of the liquidations had been from short traders. In total, there have been more than 57,800 traders liquidated and at a percentage of 83.91%, more than 48,000 traders who were betting against the crypto market’s recovery have suffered losses. 

BTC price recovers above $20,000 | Source: BTCUSD on TradingView.com

Even as time has gone on, the liquidations have not subsided. In the last 12 hours alone, the liquidation numbers have come out to more than 54 million. At the time of writing this, the last four hours had seen liquidations of $21 million and this is expected to ramp up as the recovery continues.

Ethereum Takes The Lead

In most cases, when the market liquidations are calculated, bitcoin always takes the lead. However, that is not the case this time as another has taken the lead in liquidations. Ethereum’s recovery over the last day had been just as dramatic as that of bitcoin and short traders were caught in the wave.

Related Reading | Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter?

The second-largest cryptocurrency by market cap accounts for the majority of the liquidations recorded in the last day. It has seen more than 72.64K ETH liquidated, amounting to more than $90 million. Bitcoin which usually leads the pack has only seen half the value of liquidations in the same time period.

ETH liquidations ramp up | Source: Coinglass

The same is the case on a 12-hour basis, although bitcoin is catching up in this regard. Ethereum continues to lead but by a much smaller margin.

Other cryptocurrencies that have recorded high liquidations in the last day include MATIC, SOL, and AAVE with $8.52 million, $5.93 million, and $2.81 million respectively.

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Ethereum Liquidations Ramp Up As Price Struggles To Hold $1,100

As the market ushers in another week of trading, the price of Ethereum has been struggling to hold above $1,100. This coveted point which it had broken last week remains an important technical level, which is why bulls continue to fight to hold it. However, with the decline of the digital asset’s price below $$1,200, its liquidations have been ramping up and in the last four hours, it had briefly surpassed bitcoin as more traders lose their positions.

Over $30 Million Ethereum Liquidated

Ethereum liquidations shot past bitcoin liquidations as its price continued to decline. In the last 24 hours, there have been more than 28,000 ETH liquidated as the market declines. This follows the general liquidation trend in the market given that the price of Ethereum had failed to test $1,500 as expected. In total, more than $32 million ETH had been liquidated from traders across the last day.

The same streak was recorded in the pioneer cryptocurrency, Bitcoin, whose liquidations had reached $35 million in the same time period. This translated to 1,740 BTC positions liquidated in this time period, and other altcoins had followed the same losing streak.

Related Reading | Bitcoin Funding Rates Are Climbing As Price Continues To Struggle

In total, the crypto market has seen more than 118 million in liquidations. While over 46,000 traders have been rekt in the same 24-hour period. Most of these traders have been long traders who were seemingly following the recovery trend that had rocked the space towards the end of last week.

Is ETH In Full Recover?

Ethereum has been doing quite well lately. The digital asset has been able to fend off the bears which have tried to drag down the price below $1,000 and had maintained the fight through last week. This had brought it above its 20-day moving average and had set it for a bullish trend for the first time in a month.

ETH trending above $1,100 | Source: ETHUSD on TradingView.com

However, this was only short-lived as the low liquidity of the weekend had gotten to the digital asset. ETH had fallen below $1,200 and even now continues to struggle to hold $1,140 after losing its fight at the $1,160 support.

Related Reading | Crypto Traders Lose $280 Million Following Bitcoin’s Break Above $22,000

This puts the next support at $1,100, where the bulls have been mounting up. However, it has also pushed its significant resistance point backward to $1,277 which would trigger a tug of war. As such, ETH’s immediate future remains hard to predict. 

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Crypto Traders Lose $280 Million Following Bitcoin’s Break Above $22,000

As the week draws to a close, there have been some interesting turns in the price of bitcoin. The digital asset which had been struggling to hold the $20,000 had finally broken out of this funk and was able to make a rally to the mid $22,000s. This rally had naturally led to liquidations in the market and as time goes on, these liquidations ramped up with the volatility that has followed this price recovery.

More Than 65,000 Traders Rekt

As of Friday morning, data from Coinglass shows that more than 65,000 traders have been liquidated over the last 24 hours. The liquidations had surged following the quick recovery of bitcoin above $20,000 and by the end of the day, it had added over $2,000 to its value. Traders were quickly caught off guard and millions of dollars in short positions were liquidated.

Related Reading | Bitcoin Funding Rates Are Climbing As Price Continues To Struggle

In total, there have been more than $280 million in liquidations over the last day and they continue to grow. The majority has come out to be shorts with $214.74 million in the last day. However, long traders have not been spared the onslaught with $67.35 million in the same time period. The reason for the long liquidations is that the digital asset had peaked in the mid-$22,000s and has lost about $1,000 since then.

BTC declines to low $21,000 | Source: BTCUSD on TradingView.com

Bitcoin traders are naturally bearing the brunt of the liquidations. Data shows that the past day has seen 6,320 BTC lost. This translates to $135.69 million, with the largest single liquidation event being on the BTC-USD pair at a total of $3.86 million on the Huobi crypto exchange.

Altcoins Follow Bitcoin Lead

Altcoins have maintained a close following with bitcoin when it comes to the liquidation trends. Altcoins such as Ethereum have seen tens of millions of dollars liquidated in the past day. ETH’s numbers have come out to a total of 69,110 ETH, coming out to a dollar value of $84.15 million.

Related Reading | Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000

Others that have seen large liquidations include Solana (SOL) which has been making a splash in the NFT space lately. The Ethereum competitor had seen a total of $4.14 million liquidated coming out to a combined 111,970 SOL.

Others such as GMT, AVAX, and CRV have all recorded above $3 million. While MATIC, XRP, and SAND have seen liquidations of $2.85 million, $2.45 million, and $2.17 million respectively. 

About half of the liquidations have been recorded in the last 24 hours alone with $137.96 in total liquidations. Shorts continue to make up a larger portion of the liquidations but with the price of bitcoin in a current downturn, long liquidations are ramping up.

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Crypto Liquidations Settle As Bitcoin Recovers Above $21,000

Crypto liquidations had ramped up following the market crash. Even with the recovery had come more liquidations as short calls had also taken a hit. However, with the recovery moving over the last week, the market has begun to regain some semblance of balance and so the liquidations have begun to settle.

Crypto Market Liquidations Relaxes

Although liquidations cannot entirely stop, the liquidations have begun to subside. It had fallen from over $1 billion in liquidations at the height of the market crash and has slowly but surely returned to normal levels. This is obvious in liquidations for the past 24 hours which continue to trend at around $150 million liquidated. Mostly, it has skewed towards long traders given that the market had recorded a dramatic dip in the early hours of Monday morning.

Related Reading | Market Wallows In Extreme Fear As Bitcoin Struggles To Hold $20,000

As expected, bitcoin and Ethereum take the lead for the digital asset with the most liquidations in this time period. Bitcoin alone has recorded more than $43 million in liquidations while Ethereum liquidations have come out to more than 24K ETH liquidated, amounting to more than $29 million in liquidations in the past 24 hours. 

Total market cap below $1 trillion | Crypto Total Market Cap on TradingView.com

More than 74,000 traders have been liquidated in this time though, of which 69.73% were long trades. Okex and Binance exchanges have seen the highest liquidations. However, the largest single liquidation for the last day came from the Bitmex exchange on the XBTUSD with the trade coming out to $2.48 million.

Market Takes A Nosedive

Just as feared, the crypto market has lost most of the gains that it made last week. The swift decline in price had come following the return of faith in the market, indicating that the recent recovery had been a bull trap.

Related Reading | Bitcoin May Not Reclaim All-Time High For Another Two Years, Binance CEO

In this decline, Bitcoin had fallen sharply from above $21,000 where it had trended for the better part of the week and had fallen back to the $20,000 territory once more. The dip resulted in more than $500 lost from bitcoin’s value in a matter of minutes.

As expected, this has triggered liquidations across various exchanges which brings the total value to $156 million liquidated. Bitcoin liquidations are ramping up on the one-hour chart with $28 million recorded over the same time period, coming out to 1,360 BTC liquidated.

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Over $250 Million In Liquidations As Bitcoin Recovers Above $20,000

Liquidations have rocked the space as the price of Bitcoin has fluctuated between red and green in the last week. Since the price had been crashing for the major parts of last week, the liquidations have been heavily skewed towards long traders. This trend has now changed as short traders’ liquidations have ramped up in the past week owing to recovery above $20,000.

Short Liquidations Ramp Up

Coming out of the weekend, the price of bitcoin has been doing much better than it was during the weekdays. This has now turned the tide of liquidations towards the short traders. These sorts of positions had ramped up as the price of the digital asset had declined, causing some to believe that it was going to continue. However, the price of the cryptocurrency seems to have found its footing above $17,000 and had made a bounce-off from there.

Related Reading | Bitcoin Bounces Back Before Hitting 2017 Peak, Is The Bottom In?

As of the early hours of Monday, the price of bitcoin is resting in the mid-$20,000s. At the same time, liquidation volumes remain large in the market. The past 24 hours have seen more than $250 million liquidated in the market. At the same time, about 80,000 traders have lost their positions, the majority of whom have been short traders at 63.56%.

Liquidations pass $260 million | Source: Coinglass

About $100 million worth of bitcoin has been liquidated in the same time period, coming out to 4,800 BTC. While Ethereum liquidations have also ramped up with $82.47 million in liquidations in the same time period. 

Altcoins such as SOL, DOGE, and GMT are also feeling the heat, returning large volumes to liquidations. OKEX crypto exchange has seen the most liquidations with $96.25 million in the last 24 hours, with Binance in second place with $76.08 million.

Bitcoin Price Stays In The Green

Bitcoin had closed the last week in the red after finally ending its nine-week red streak the prior week. This close had come with a lot of negative implications, pushing the price of the digital asset to yearly lows. However, this storm has begun to pass with the recovery in price.

Related Reading | Mike McGlone Says $20,000 Is The New $5,000 For Bitcoin, But Is He Right?

The weekend had seen a ramp-up in buying since the price of the cryptocurrency had dropped to the $17,000 level. This provided a much-needed bounce point as support had begun to form. What would follow was a $3,000 gain over the next two days that brought the value of the digital asset close to $21,000 once more.

BTC trending in the mid-$20,000s | Source: BTCUSD on TradingView.com

But even as the bulls have struggled to take a hold of the market, their efforts have been met with much opposition. Significantly at the $21,000 where there is now the most resistance. A break above this point will likely see the digital asset touch $25,000 before the end of the week. Hence the opposition.

On the other side is the first support level for the digital asset which has now formed at $20,150. However, with the selling sentiment still so strong among investors, it is doubtful that bitcoin will be able to hold for very long at such prices.

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More Than 253,000 Traders Liquidated As Crypto Bloodbath Continues

The crypto bloodbath has left thousands of traders in a bad way. A rapid decrease in price has seen more than 240,000 traders rekt in the span of 24 hours. As the downtrend continues, more investors are added to the long line of losers, most of which have been long traders. As it stands, there are now almost a billion dollars that have been liquidated in the market so far and this number continues to climb with bitcoin declining below $24,000.

Over $940 Million In Crypto Liquidated

Over the last 24 hours, the liquidations that have rocked the crypto market have been nothing short of brutal. Most of the liquidations have come from the largest digital assets in the space but Bitcoin has borne the brunt of it once more.

The long traders who were hoping for further price recovery had been hit hard in the space. Although the majority of liquidations have been long liquidations, it doesn’t mean that short traders have been spared either. What has occurred has been that as the price fluctuations continue, a lot of traders have been blindsided and had their positions liquidated in a flash. 

Related Reading | U.S. Macro Pressure Responsible For Entire Bitcoin Downtrend

So far, there have been a little over 253,000 traders liquidated in the past day alone but these numbers are rapidly growing. Data from Coinglass shows that $596.99 million in longs have been liquidated, accounting for 63.25% of all rekt volume. While $346.86 million in shorts have been liquidated, making up the remaining 36.75% of losses.

Market cap losses more than $100 billion | Source: Crypto Total Market Cap on TradingView.com
Bitcoin, Ethereum, Record Massive Losses

As expected, the big players have seen the most losses in the past 24 hours. What is more interesting is the volume of digital assets that have been lost by traders. For bitcoin alone, there have been more than 16.84K BTC liquidated. This comes out to $399.38 million. As for Ethereum, it tells an almost identical story with 298.96K ETH liquidated which totals $356.82 million.

Related Reading | Head To Head: Bitcoin, Ethereum Profitability For Investors

The smaller altcoins have not been spared from the onslaught either. Solana which has been one of the worst losers when it comes to the market downtrend has seen this translate into liquidations. With the digital asset finally dropping below $30, long liquidations have ramped up, leaving traders losing 699.32K SOL or $18.59 million in the past 24 hours.

Other top losers include FLM with $11.99, GMT with $7.86 million, ADA with $7.53 million, and TRX with $5.85 million. Other notable assets also recorded losses to a significant degree with XRP, LUNA, DOGE, and AVAX seeing $5.54 million, $5.19 million, $4.84 million, and $4.72 million in liquidations respectively. Litecoin completed the top 12 with liquidations of $4.60 million.

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