Crypto Market Bloodbath: Altcoins Pummeled With $73 Million Liquidations
Altcoins have been thrust into a whirlwind of uncertainty as Bitcoin’s price tries to cling on to its $27k handle. The sudden reversal of the alpha crypto’s fortunes, retreating more than 5% in the last 24 hours, has caught many overzealous traders off guard. As a result, a flurry of liquidations totaling nearly $73 million […]
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The crypto bloodbath has left thousands of traders in a bad way. A rapid decrease in price has seen more than 240,000 traders rekt in the span of 24 hours. As the downtrend continues, more investors are added to the long line of losers, most of which have been long traders. As it stands, there are now almost a billion dollars that have been liquidated in the market so far and this number continues to climb with bitcoin declining below $24,000. Over $940 Million In Crypto Liquidated Over the last 24 hours, the liquidations that have rocked the crypto market have been nothing short of....
Data shows a large number of long liquidations have occurred in the cryptocurrency market as Bitcoin and other assets have plunged. Crypto Liquidations Have Surpassed $712 Million Over The Past Day According to data from CoinGlass, chaos has occurred on the derivatives market following the volatility Bitcoin and the company have gone through during the last 24 hours. Related Reading: Bitcoin MVRV Ratio Signals Price Hot, But Not In Danger Zone Yet Below is a table that shows how the liquidations have looked for the cryptocurrency sector within this window. As is visible, almost $712....
Crypto liquidations had ramped up following the market crash. Even with the recovery had come more liquidations as short calls had also taken a hit. However, with the recovery moving over the last week, the market has begun to regain some semblance of balance and so the liquidations have begun to settle. Crypto Market Liquidations Relaxes Although liquidations cannot entirely stop, the liquidations have begun to subside. It had fallen from over $1 billion in liquidations at the height of the market crash and has slowly but surely returned to normal levels. This is obvious in liquidations....
Data shows the crypto futures market has taken a $380 million beating over the past day as Bitcoin has rebounded above $30k. Out of this amount, $240 million liquidations have belonged to short traders. Crypto Shorts Observe $240 Million In Liquidations Over Last 24 Hours In case anyone isn’t aware of what “liquidations” are, it’s best to first take a brief look at the workings of margin trading in the crypto futures market. When an investor opens a, say, Bitcoin long or short contract at a derivatives exchange, they first have to put forth some collateral called....
The current market downturn is being attributed to a number of macroeconomic factors, such as higher-than-expected CPI data and a possible biggest Fed rate hike in 40 years. The crypto market turmoil entered the third week of September as most of the cryptocurrencies started the week on a bearish note. The total crypto market cap dipped below $1 trillion again, with several cryptocurrencies recording a double-digit downfall over the past 24 hours.The ongoing bearish turmoil has led to nearly half a billion in liquidations for the leverage crypto traders over the past 24 hours. Data from....