Источник Bitcoinist.com
Заголовок Crypto Sees $1 Billion Flush As Bitcoin Goes Through ATH Rollercoaster
Дата 20241113

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Crypto Sees $1 Billion Flush As Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Goes Through ATH Rollercoaster

Crypto Sees $1 Billion Flush As Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Goes Through ATH Rollercoaster

by Keshav Verma

3 minutes ago

in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News

0

Data shows the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта derivatives market has suffered a lot of
liquidations as Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has gone through volatility in the past day.

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Has Gone Through A Bit Of A Rollercoaster Over The Last 24 Hours

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has seen some wild price action over the past day in which it has not
only set a new all-time high (ATH) close to the $90,000 mark but also marked a
low around the $85,000 level.

Related Reading: Dogecoin Whales Are Active: Are They Buying Or Selling?

The chart below displays what the asset s recent trajectory has been
like.

The price of the coin appears to have been rising recently | Source: BTCUSDT
on TradingView

The graph shows that since the $85,000 low, BTC has already bounced back to
$88,500, which means its price has almost returned from the plummet.

Given that most of the coins in the sector closely react to movements in the
value of the original cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, their prices have also gone through
similar volatility.

A consequence of all this sharp action has been that chaos has occurred on the
derivatives side of the market, as speculators have scrambled to predict where
the assets would head next, only for a large chunk of them to end up in
failure.

Nearly $1 Billion In Crypto Has Just Been Liquidated

According to data from CoinGlass , many contracts have found liquidation
during the past day. Liquidation refers to the process that
any open contract undergoes after amassing losses of a certain degree, where
its platform forcibly shuts it down.

Here is a table that displays the numbers related to the latest mass
liquidation event in the sector:

Looks like the liquidations have heavily tended towards longs during this
window | Source: CoinGlass

The cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта derivatives market appears to have seen liquidations
amounting to $973 million in the last 24 hours, out of which $580 million have
been longs and the remaining $393 million shorts.

Interestingly, even though prices have seen a net increase for many of the
assets inside this window, more investors betting on a bullish outcome have
managed to get flushed.

This would naturally indicate that many traders rushed to get their bullish
positions only after BTC grew to its recent high. Though the longs have had it
bad, the shorts• Музыка » Музыка Нидерландов » Музыкальные Коллективы Нидерландов » The Shorts have certainly not been sparred, as their numbers are
significant in their own right.

Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Breaks $82,000: Who Is Driving The Market?

Regarding the contribution to the liquidations from the individual symbols,
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has predictably come out on top with over $270 million worth of
contracts being involved in the event.

The distribution of the liquidations across the various symbols | Source:
CoinGlass

What s worth noting, however, is that Dogecoin (DOGE) has managed to see
more liquidations than Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) , even though the latter has the second
largest market cap in the sector. That said, the difference between the two is
barely half a million dollars.

DOGE s high liquidations are likely to be a product of the explosive
action that its price has seen, moving to end the day being up more than 21%.

Featured image from Dall-E, CoinGlass.com, chart from TradingView.com

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