₩114.5 billion in short positions liquidated in an hour after Trump's 'ceasefire agreement' remark
Summary
- It was reported that after former President Trump's comment on a ceasefire agreement, the cryptocurrency market experienced a sharp rebound.
- Within the past hour, a total of about ₩125.5 billion in position liquidations occurred in the crypto market, with the majority coming from short positions.
- There were large-scale liquidations for major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP.
The Middle East war between Israel and Iran appears to be coming to an end with a ceasefire. As a result, the cryptocurrency market is rebounding sharply.
According to CoinGlass as of 8:07 a.m. on the 24th, a total of $91.48 million (about ₩125.5 billion) in liquidations occurred in the crypto market over the past hour. Of this amount, short positions (bearish bets) accounted for $83.48 million (about ₩114.5 billion), making up most of it, while long positions (bullish bets) totaled $8 million (about ₩11 billion).
Liquidations amounted to $38.89 million in Bitcoin (BTC), followed by Ethereum (ETH), Solana (SOL), and XRP in that order.
Earlier, at 7:02 a.m., former President Donald Trump announced on his Truth Social platform, "Iran and Israel will enter a ceasefire within 6 hours."
At 8 a.m., a senior Iranian official told Reuters, "We have agreed to a ceasefire with Israel," raising the possibility that the ceasefire between the two countries is real.
Uk Jin
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