Crypto investors suffered the biggest liquidation in over a week as Bitcoin and most altcoins continued their downtrend.  Bitcoin and altcoins liquidations rise Data compiled by CoinGlass shows that total liquidations on Friday, Sep. 6, jumped to over $221 million,…

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As expected, the bearish start in September has brought an increased amount of liquidation to the cryptocurrency market. According to data provided by Coinglass, the total amount of crypto liquidations increased by 176% in the past 24 hours and is…

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Bitcoin hits multi-month low as stock markets crash. What happened to crypto market crypto on black Monday? From Aug. 4 to 5, the crypto market experienced a significant drawdown. Bitcoin (BTC) fell below $50,000, and Ethereum (ETH) — $2,200. Following…

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The cryptocurrency market has been wandering in bearish conditions, leading to over $1 billion in liquidations. According to data provided by Coinglass, total crypto liquidations have reached $1.06 billion, marking a 454% increase over the past 24 hours. Roughly 85%,…

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Bitcoin has jumped above $66,000, reaching its highest level since mid-June when prices hovered above $67,000. The price of Bitcoin (BTC) is currently 4.7% up in the past 24 hours as buyers hover around $66,670. Meanwhile, Ethereum (ETH) has climbed…

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Bitcoin and Ethereum have seen more than $50 million in short liquidations in the past 24 hours, with these coming as prices surged to multi-week highs. Despite most of the liquidation volume coming from shorts, bullish bets also suffered, with…

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Data shows the cryptocurrency derivatives market has registered significant liquidations after the Bitcoin rally above the $63,000 mark.

Bitcoin Rally Has Resulted In Short Liquidations On Derivatives Market

According to data from CoinGlass, the latest volatility in the cryptocurrency market has led to large liquidations on the derivatives side. “Liquidation” here naturally refers to the process that any open contract undergoes where its platform forcibly closes it off after it has amassed losses of a certain degree.

The table below shows how the derivatives liquidations have looked during the last 24 hours:

It would appear that the cryptocurrency derivatives market has registered total liquidations of $126 million in the past day. Out of these, almost $101 million of the contracts were short ones.

This figure is equivalent to more than 80% of the total, implying that these investors betting on a bearish outcome for the market were the most heavily affected by the latest volatility. This naturally makes sense, as assets across the sector have seen green returns in this window, led by Bitcoin’s rally.

A mass liquidation event like this latest one is popularly called a “squeeze“, and as shorts were the side that contributed to a majority of these liquidations, the squeeze would be known as a “short squeeze.”

During a squeeze, liquidations end up feeding further into the price move that caused them, thus unleashing a cascade of further liquidations. As such, the sharp price surge in the past day would in part be fueled by the short squeeze.

As for the breakdown of this latest squeeze for the various symbols, it would seem like Bitcoin has come out on top like usual with around $45 million in liquidations.

Ethereum (ETH) and Solana (SOL) have made up the rest of the top three with $24 million and $8 million in liquidations, respectively. Interestingly, while most of the sector has seen the dominance of short liquidations, XRP (XRP) on fourth has seen longs edge out instead. This may be down to the fact that the coin has overall only moved sideways while the rest have rallied.

BTC Has Managed To Reclaim The $62,000 Support Level

With the latest rally, Bitcoin has been able to make some significant recovery, with its price even briefly surging above the $63,000 level earlier in the day.

The chart below shows what the coin’s surge has looked like:

According to data from the market intelligence platform IntoTheBlock, Bitcoin is now floating above the significant on-chain support level of $62,000. “While resistance is strong above, enough bullish momentum can prevent selling pressure,” notes the analytics firm.

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Bitcoin price broke below $61,000 on Monday as bearish pressure intensified, and the market has seen over $320 million in total liquidations in 24 hours as a result. With bulls unable to hold key price levels as BTC traded lower,…

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Early on Monday morning, the Bitcoin price crashed another 5% to drop to the $61,000 level. This drop, which was very sudden, has taken investors by surprise, triggering a massive wave of liquidations. As the volume continues to rise, the crypto liquidation figures have barreled toward $300 million in just 24 hours alone.

91,000 Crypto Traders Lose $282 Million Amid Bitcoin Crash

Data from Coinglass has shown that tens of thousands of crypto traders have lost their leverage positions in the last day, leading to hundreds of millions of dollars in liquidations. This comes with the decline in the crypto market, spurred on by the Bitcoin crash.

So far, the number of traders who have lost their positions has crossed 91,000, and a little over $282 million has been lost since then. With the Bitcoin and crypto market crash, the majority of these liquidations have come from long traders, with an overwhelming 91.59%.

As expected, Bitcoin has seen the largest liquidation volumes with $103 million. Ethereum follows in second place with $64 million, while Solana comes in third place with $13 million. Liquidations from others have also crossed $38 million during this time.

Binance accounts for around 35% of total liquidations with $102.9 million, while the OKX exchange has recorded $82 million in liquidations. Huobi, Bybit, and Bitmex are in 3rd, 4th, and 5th positions with $47.72 million, $21.33 million, and $15.15 million, respectively. While the largest single liquidation order took place on the Bitmex exchange, where a trader lost $10 million on the XBTUSDT pair.

At the time of writing, the majority of the liquidation had taken place in the last 12 hours alone, making up $230 million out of the recorded $282 million. Meanwhile, in the last hour, the liquidation volumes have crossed $102.5 million.

Despite the notable liquidation volumes, the last 24 hours are still not the worst day for the month of June. Since June has been riddled with crashes, there have been notable liquidation trends for the month. For example, on June 7, liquidation volumes reached $360 million when the Bitcoin price crashed from $71,000 to $68,000.

Then again, on June 18, 24-hour liquidation volumes crossed $300 million when the Bitcoin price fell from $67,000 to $64,000. If the Bitcoin price continues to fall, then these liquidation volumes could continue to climb quickly and reaching $300 million could only be a matter of when and not if.

The Bitcoin price is currently struggling to hold $61,000, with an approximately 5% decline in the last 24 hours. If bulls fail to hold this support level, the possibility of the price falling to the $50,000 territory becomes much higher.

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In the past 24 hours, Ethereum (ETH) leads with $9 million in liquidations — $3.5 million longs, $5.5 million shorts. Here’s the latest data from Coinglass.

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