PiCK
Bitcoin Returns 93k... $48 Million in Crypto Futures Liquidated in the Last Hour
Summary
- It was reported that as Bitcoin's price fell, cryptocurrency futures liquidations occurred on a scale of $48 million.
- It was noted that long liquidations were predominant, which could serve as an important signal for investors.
- It was analyzed that with Bitcoin's decline, downward pressure is increasing in the cryptocurrency market.
As the cryptocurrency market, including Bitcoin (BTC), shows a downward trend, a significant number of liquidations have occurred in the futures market.
According to data from CoinGlass, a cryptocurrency market data analysis firm, a total of $47.93 million was liquidated in the futures market over the past hour. Specifically, long (buy) liquidations accounted for the majority at $46.81 million, while short (sell) liquidations were recorded at $1.13 million.
During the same period, Bitcoin long liquidations amounted to $11.96 million, and Ethereum long liquidations were $7.95 million.
The BTC price is trading at $92,779, down 2.41% from the previous day, based on the Binance USDT market at 11:11 PM (Upbit standard 138,060,000 KRW). It is analyzed that after Bitcoin returned to $93,000, the increase in liquidation volume in the cryptocurrency futures market is intensifying downward pressure.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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