Data shows that the cryptocurrency derivative market has seen a huge amount of liquidation after increasing Bitcoin to the highest new level ever (ATH).
Bitcoin rose to a new price record
Immediately after the prolonged uniformity, I chose Bitcoin a new record. Shortly, the BTC step saw it touched a sign of $ 112,000.
Below is a scheme that shows how the performance of the last origin was like:
The price of the coin appears to have shot up over the last 24 hours | Source: BTCUSDT on TradingView
As visible in the graph, Bitcoin has seen a small decline to $ 111,000 since ATH increased. In a typical way, this transition from the original digital assets is sent bullish wave across the sector, while monitoring their jumps.
Many of them outperformed BTC, including ETHEREUM (ETH), which saw a profit of about 4.5 % over the past day. The prominent performer among the best metal currencies was SUI (SUI), as she noticed an increase of more than 9 % in this window.
With the upcoming prices in this sector, investors were betting on a declining result on the side of the derivatives that were naturally put forward.
The encryption market qualifiers exceeded $ 500 million
According to data from CoinglassThe derivative exchanges have recorded major qualifiers over the past 24 hours. Below is a table that displays relevant numbers.
Looks like the liquidations have heavily tended towards short positions | Source: CoinGlass
In total, he faced the cryptocurrency market as a whole qualifying for about $ 528 million in this period. Among them, 453 million dollars from the references, which represented 85 % of the total, came from short investors alone.
In terms of individual symbols, Bitcoin and Ethereum contributed to more than a maximum pressure, with $ 225 million and $ 148 million in liquidation, respectively.
The breakdown of the liquidations by symbol | Source: CoinGlass
Comprehensive liquidation events such recent events are not a particularly rare scene in the encrypted currency sector, given that the coins are relatively volatile and extreme quantities are easily accessible.
There have been two main short pressure over the past few weeks alone. According to the Analysis Company GlassHowever, the last different behavior event witnessed open attention. “Open benefit” is an indicator that tracks the total amount of bitcoin situations currently open to all central derivative platforms.
When comprehensive liquidation events occur, it is not unusual to see the decrease in open benefits as investors are liquidated or out of the market. This happened with the last two short pressure and also the last one.
The trend in the BTC Open Interest over the last few weeks | Source: Glassnode on X
It is clear from the graph, although although the open interest remained after the previous marches, it soon rose again after the initial decline during the last time. This trend can indicate a long -fresh positioning in the sector.
Distinctive image from Dall-I, Coinglass.com, Chart from Tradingview.com
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The post Bitcoin Sets New ATH, Crypto Bears Crushed In $453M Squeeze first appeared on Investorempires.com.
