Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The cryptocurrency market has seen nearly $2 billion in liquidations over the past 24 hours, with the total market capitalization falling below $3 trillion for the first time in five months.
Bitcoin (BTC) alone represented almost half of the total liquidations, with bullish speculators suffering the biggest losses during the latest sweep.
Sponsored
Sponsored
A massive liquidation sweeps the cryptocurrency market
According to data from Coinglass, the cryptocurrency space has seen Another major liquidation event. In the last 24 hours, 391,164 speculators were liquidated, pushing the total liquidations to $1.91 billion.
Long positions accounted for $1.78 billion of the total liquidation, while shorts accounted for only $129.3 million. The largest single liquidation operation has been completed Hyperliquid, a decentralized exchange for perpetual contractsIt was closed by a BTC-USD deal worth $36.78 million.
Bitcoin driven All filtering operationswhich amounted to $929 million out of a total of $960 million in long positions. Ethereum (ETH) followed with $403.15 million, again mainly from Long positions driven by leverage.
The data on the chain shows the significant impact of the survey on prominent speculators. Reported by PeckShieldAlert Several major ETH whales were liquidated after… The second fell– bigger Cryptocurrency under $2,900. Individual settlements ranged between $2.9 million and $6.52 million.
Sponsored
Sponsored
Also, Lookonchain said what is One prominent person saw his account drop to just $15,538. Their total losses now exceed $20 million. Another major loss was recorded from “Anti-CZ Whale” .
The blockchain analytics company reported that this trader’s profits on Hyperliquid dropped dramatically in just 10 days. Large leveraged positions on eth and xrp were the main culprits. Also, the whale was liquidated again today.
Lookonchain added what is “Once a legend with earnings of almost $100 million – now his earnings are down to $30.4 million.”
This sale comes at a time of decline Total market capitalization By more than 6% the last day, reaching $ 2.9 trillion. Kobeissi’s letter confirmed that the market has lost $1.3 trillion in value since the beginning of October.
entered Post “This is one of the fastest bear markets in cryptocurrency history.”
Kobeissi Lettera described the market as Mechanical bear market Caused by heavy leverage and sporadic liquidation. With leveraged traders forced to sell as prices fall, the feedback loop adds downward pressure. Second To analyze them,
“Throughout the 45-day period of this bear market, cryptocurrencies have seen little or no negative developments in terms of fundamentals. The market is active. It will rebalance.”
