The proposals, which aim to disable CRV borrowing and decrease Aave’s exposure to Curve’s native token on its Ethereum V2 markets, are responses to the liquidation pressure faced by Curved founder Michael Egorov.
Curve Founder’s $168M Stash Is Under Stress, Creating a Risk for DeFi as a Whole
Curve CEO Michael Egorov pledged 34% of CRV’s total market cap to back loans across DeFi protocols. A forced liquidation would result in selling at a time when prices are already falling.
Sudden Crypto Volatility Spurs $216M in Losses, Liquidating Both Long and Short Positions
Cryptocurrency prices rose early Friday but then dropped sharply following a report that the SEC had deemed recent spot BTC filings inadequate.
Bitcoin holds $30K as bulls flaunt their advantage in Friday’s $715M BTC options expiry
News of regulatory enforcement against the crypto sector fell by the wayside as the Bitcoin price rallied above $30,000, and options data suggests the trend will continue.
Bitcoin’s Rally to $28K Causes the Largest Short Squeeze This Month
The price surge liquidated some $34 million of short positions in the past 24 hours, the most this month, CoinGlass data shows.
Bitcoin rebound falters amid SEC crackdown on exchanges, raising chance of a BTC price capitulation
Regulatory concerns continue to impact the entire crypto market, and this week’s BTC options expiry could play a decisive role in pushing the Bitcoin price under $26,000.
Crypto Traders Suffer $320M Losses in Liquidations as SEC Lawsuit Against Binance Spurs Market Plunge
Cryptocurrency prices nosedived Monday as the U.S. Securities and Exchange Commission (SEC) sued the crypto exchange and its chief executive for multiple federal securities law violations.
Bitcoin Tumbles as Wild Crypto Market Swing Causes $310M Losses From Liquidations
The CoinDesk Market Index (CMI), which tracks the performance of the broader crypto market, plummeted 5.6% in an hour.
Ether price struggles to maintain support as regulatory challenges and network issues weigh
Ether options volume hints at bearish sentiment as the $1,850 support falters.
Ethereum price reaches lowest level relative to Bitcoin in 5 months
Traders question whether the underperformance is due to the Shapella hard fork, while derivatives data indicates that ETH buyers lack conviction.
Bitcoin Surges 18% to Above $24K
The largest cryptocurrency by market cap was recently trading near $24,200.
On-Chain Liquidations Beckon as Ether Slumps to 2-Month Low
Several on-chain positions are at risk of being liquidated following ether’s plunge to a two-month low of $1,373.
Crypto Traders Suffer Over $300M of Losses in Liquidations Amid Market Crash
The largest long liquidation in at least a month suggests that Thursday’s crash in crypto prices caught traders off-guard. Bitcoin traders suffered the most losses, some $112 million in the past 24 hours, while ether liquidations surpassed $73 million, per data from Coinglass.
Bitcoin Long Liquidations Hit Highest Level Since August
Centralized exchanges liquidated bullish long futures worth over $62 million during the early Asian hours.
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.
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.
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.
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%.
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.
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.
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.
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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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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