CandleFocus

$145m in short liquidations pumped Bitcoin, altcoins 

Author: Content Editor
The cryptocurrency market is experiencing increased liquidations, particularly in short trading positions, as major assets like Bitcoin and Ethereum gain bullish momentum. Over the past 24 hours, total liquidations exceeded $192 million, with more than $145 million from short trades and $46 million from long trades. Bitcoin alone accounted for $63 million in liquidations, surpassing the $66,000 mark. Ethereum saw $37 million in daily liquidations, propelling it past the $2,600 mark. The largest single liquidation order of $5.2 million occurred on Binance. Despite the liquidations, the total open interest in the market increased by 4.7%, indicating signs of FOMO and greed. The global crypto market capitalization has also risen by over $109 billion in a day, with Bitcoin dominating at 54.2% and a market cap of nearly $1.3 trillion. Additionally, the surge in U.S.-based spot BTC exchange-traded funds has contributed to the bullish momentum, with $555.9 million in inflows recorded on Monday, a four-month high.

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