Bitcoin’s wild price swings have rattled the crypto markets, causing significant liquidations. In the past 24 hours, the total liquidation value reached a staggering $894.03 million, affecting 168,056 traders. The largest single liquidation occurred on OKX with a BTC-USDT-SWAP order worth $18.94 million.
The chaos began when Bitcoin surged to an impressive $103,900 before plunging to $90,400 overnight on Binance. However, bulls quickly entered the scene, pushing the price back to $97,898 as of now.
The bulk of the liquidations were long positions, accounting for $733.49 million, while shorts added $160.36 million to the tally. Here’s how the liquidations played out over different timeframes:
- 1 Hour: $18.22M ($17.02M longs, $1.20M shorts)
- 4 Hours: $50.18M ($42.67M longs, $7.51M shorts)
- 12 Hours: $166.08M ($103.25M longs, $62.83M shorts)
- 24 Hours: $893.85M ($733.49M longs, $160.36M shorts)
Bitcoin’s dramatic rise and fall within such a short span highlight the ongoing volatility in the cryptocurrency market. While some traders capitalized on the fluctuations, others faced heavy losses.
