Ahead of rate announcement…24-hour futures liquidations approach $200 million

Son Min

Summary

It reported that over the past 24 hours, position liquidations in the digital asset perpetual futures market amounted to $201.12 million.
The largest liquidation was in Ethereum (ETH), with $63.32 million in liquidations.
It said the market is mixed ahead of the U.S. Federal Reserve (Fed)'s policy rate announcement.

Over the past 24 hours, position liquidations in the digital asset (cryptocurrency) perpetual futures market amounted to $201.12 million.

According to CoinGlass data on the 17th (local time), a total of $201.12 million worth of futures positions were liquidated in the digital asset market over the past 24 hours. Specifically, long positions worth $115.76 million were liquidated, and short positions worth $85.35 million were liquidated.

The largest liquidation occurred in Ethereum (ETH). Ethereum saw $63.32 million in position liquidations over 24 hours, of which $43.45 million were long positions and $19.87 million were short positions. Second was Bitcoin (BTC). During the same period, Bitcoin saw $29.24 million in liquidations, of which $8.72 million were long positions and $20.52 million were short positions.

The mixed performance in the digital asset market was influenced by the upcoming rate-cut announcement. On the 18th at 03:00 (KST), the U.S. Federal Reserve (Fed) will announce the policy rate. According to CME FedWatch, the probability that the policy rate will be cut by 25bp is 96%.

BTC

ETH