The total amount of liquidations on the crypto market over the past 24 hours exceeded $220 million. Most of the forced closed positions were in BTC and ETH.
A sharp jump in the price of Bitcoin to a new maximum of $49 thousand and the subsequent pullback cost traders $81.47 million. Market participants who opened positions in Ethereum (ETH) also suffered significant losses – the rise of the second largest cryptocurrency by capitalization to $2,700 cost them $43.93 million.
More than 90% of forced closures were distributed between Binance, Bybit, OKX and CoinEx. The largest order was executed by Binance: the exchange liquidated short BTCUSDT in the amount of $6.61 million.
What's happening to the price of Bitcoin
The start of trading in shares of spot Bitcoin ETFs from a number of issuers, including BlackRock and Grayscale, provoked a sharp increase in the price of Bitcoin. On the day the instrument was launched, BTC came close to the $49 thousand level, but after that it corrected.
At the time of writing, the asset is trading around $45,900.
Source: Cryptocurrency
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