Bitcoin falls below $120,000... Futures liquidations approach $498.82 million in 24 hours

In the past 24 hours, liquidations in the perpetual futures market for virtual assets (cryptocurrencies) recorded $498.82 million.

According to CoinGlass data on the 15th (local time), the total amount of liquidated futures positions in the virtual asset market over the last 24 hours reached $498.82 million. After Bitcoin (BTC) hit an all-time high (ATH) and then dropped below $120,000, there was a higher volume of liquidation of long (buy) positions. Specifically, $389.70 million worth of long positions were liquidated, while $109.12 million worth of short positions were liquidated.

Bitcoin easily recorded the largest amount of liquidations. Over 24 hours, Bitcoin saw $181.12 million in position liquidations, of which $142.03 million were long positions and $39.09 million were short positions. Ethereum (ETH) ranked second, with $105.15 million liquidated over the same period. The amount of long and short liquidations were $82.38 million and $22.77 million, respectively.

As of 3:45 pm, in the Binance USDT market, Bitcoin and Ethereum are trading at $116,999 and $2,975, down 4.26% and 1.75% respectively from 24 hours ago.