In the past 24 hours, approximately $158.76 million (about 23 billion won) worth of leverage positions were liquidated in the cryptocurrency market.
According to the currently compiled data, short positions accounted for $41.751 million, representing 92% of the total liquidations, while long positions were $30.17 million, accounting for 8%.
Bybit saw the most position liquidations in the past 4 hours, with a total of $106.05 million (35.76% of the total) liquidated. Among these, short positions accounted for $105.45 million, or 96.26%.
Gate was the second-highest exchange for liquidations, with $9.05 million (20.17%) of positions liquidated, of which short positions were $8.61 million (95.08%).
Binance experienced approximately $8.97 million (19.99%) in liquidations, with short positions at 86.10%.
OKX and HTX also saw liquidations of $5.54 million (12.34%) and $4.75 million (10.59%) respectively, with both exchanges having over 90% short position liquidations.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $71.63 million in Bitcoin positions were liquidated in 24 hours, with $27.95 million liquidated in the past 4 hours. The current Bitcoin price is $108,760.6, up 3.89% in 24 hours.
Ethereum (ETH) saw about $71.07 million in positions liquidated in 24 hours, with $21.82 million liquidated in the past 4 hours. Ethereum's price is $2,667.9, up 6.63% in 24 hours.
Solana (SOL) had approximately $9.41 million liquidated in 24 hours, with its current price at $157.21, up 5.67%. Among other major altcoins, XRP ($7.3 million) and HYPE ($1.46 million) saw significant liquidations.
Doge also recorded a price increase of 4.24% to $0.1798, with about $2.62 million in liquidations.
Notably, most coins saw an overwhelming number of short position liquidations. This suggests that as the market showed a stronger upward trend than expected, traders betting on a decline suffered massive losses.
Meme tokens like FARTCO and 1000PEI also experienced significant liquidations, with price increases of 10.45% and 4.16% respectively, while the UNI Token saw a large price increase of 12.61% along with liquidations.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leverage position when a trader fails to meet margin requirements. This large-scale short position liquidation suggests that the cryptocurrency market is showing strong upward momentum.
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