Liquidations totaling $290 Million driven by Volatility in Bitcoin, Dogecoin, and Ethereum – Decrypt
The prices of Bitcoin, Ethereum, and Dogecoin experienced volatility today, but by Monday evening, they ended up roughly where they started. However, the price spikes triggered a wave of crypto liquidations totaling over $290 million across the market.
Ethereum led the way with about $58.9 million in liquidations due to ETH’s price movement in the last 24 hours, according to data from CoinGlass. Most of the ETH-related liquidations on Monday were long positions.
Although ETH only dropped 2% overall on Monday, it briefly fell below $3,500. This slight dip, where ETH dropped $12 below $3,500 at its lowest point, may have triggered the liquidations.
Dogecoin also experienced a minor drop today, briefly falling below $0.13 before quickly recovering. However, this dip led to a large wave of liquidations for long positions, totaling over $44 million in the last 12 hours alone.
DOGE is down 3.6% overall today.
Bitcoin was also a target for liquidations today, with short positions dominating the liquidated positions. In the last 24 hours, around $21 million in BTC short positions and $19.86 million in long positions were liquidated.
Despite briefly surpassing $67,000 on Monday afternoon, the price of Bitcoin is now at $66,376, almost unchanged from a day ago. This unexpected increase was unfortunate for those betting on the token’s decline.
Edited by Andrew Hayward
Source link
#Bitcoin #Dogecoin #Ethereum #Volatility #Drive #Million #Liquidations #Decrypt
