Summary
- It was reported that the announcement of mutual tariff suspension between the US and China led to a surge in virtual asset perpetual futures liquidations.
- Over the past hour, short position liquidations were significantly more than long position liquidations, indicating market volatility.
- The tariff suspension announcement and President Donald Trump's announcement are presumed to be the causes of the Bitcoin surge.
As the United States and China announced a partial mutual tariff suspension for 90 days, it was observed that the liquidation of perpetual futures in virtual assets (cryptocurrency) has significantly increased.
According to Glassnode data on the 12th (local time), a total of $114.95 million worth of positions were liquidated in the futures market over the past hour. This figure amounts to about 80% of the liquidation volume over the past four hours, indicating a very rapid liquidation occurred within an hour.
In particular, the entire market surged following the tariff suspension agreement, with a large scale of short position liquidations. Over the past hour, the short (sell) liquidation amount was $90.76 million, significantly exceeding the long (buy) liquidation amount of $24.19 million.
The liquidation volume over the past 12 hours also showed a dominance of short positions. This is also presumed to be due to the surge in Bitcoin following the announcement of a major announcement by US President Donald Trump early the previous day. Over the past 12 hours, the liquidation volume of virtual assets was $230.84 million, with short and long positions recording $152.77 million and $78.07 million, respectively.
Meanwhile, the United States and China have agreed to lower mutual tariffs over the next 90 days. The US announced it would reduce tariffs on China from 145% to 30%, while China announced it would lower tariffs on the US from 125% to 10%.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
