According to Coinglass data, the continued rally in the cryptocurrency market led to the liquidation of more than $200 million in positions against the industry, resulting in heavy losses for short sellers.

Total liquidations in the last 24 hours totaled $217 million, affecting 57,332 traders. 72% of them were short he was a trader. According to Nikon, the largest liquidation was on BitMex and was worth $7.08. Coin glass data.

bitcoin liquidation
Source: Coinglass

A breakdown of cryptocurrency liquidations showed that Bitcoin (BTC) and Ethereum (ETH) accounted for $154.25 million. Other crypto assets such as Litecoin (LTC), Optimism (OP), Solana (SOL), Aptos (APT) and Cardano (ADA) make up the rest.

Across exchanges, Binance was responsible for $81.63 million in liquidations. OKX and ByBit have also recorded substantial liquidations on their platforms. Together, the two exchanges liquidated him $87.24 million.

Bitcoin traders are profitable

Bitcoin investors, meanwhile, appear to have benefited somewhat from the recent market rally.

Bitcoin dominated altcoins as crypto-friendly banks like Silicon Valley Bank collapsed, according to blockchain analytics firm Santiment.

21,524 Bitcoin 0.11% of the asset’s supply was returned to the exchange within a day.i.e. crypto The exchange saw its biggest BTC net coin inflow in six months on March 13th.

of crypto slate The Insights report corroborates Santiment’s data. According to reports, a large whale has sold over $500 million worth of him on Binance, adding that this is the highest amount since the collapse of Terra.

profitable investor
Source: Santimento

Santiment, on the other hand, suggested that this meant that Bitcoin traders were profiting. Also, according to alternative.me’s Fear & Greed Index, current market sentiment indicates that crypto investors have moved from “neutral” to “greedy” within the last 24 hours.

By Jules

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