In the past day, Bitcoin saw more than $75 million worth of long and short liquidation. Shorts worth $61.21 million were liquidated.
The worldwide digital asset market experienced a tremendous rally on Wednesday, as the price of the largest cryptocurrency, Bitcoin (BTC), increased by approximately 8% over the previous twenty-four hours. According to the data, the present price increase has left crypto shorts bleeding.
Bitcoin Price Move Crypto Market Up
In the last 24 hours, more than 46K merchants have been liquidated, according to data from Coinglass. The total reported liquidation exceeds $162.05 million, with Binance executing the most significant liquidation order of BTC/USDT worth $4.67 million.
80.4% of the positions (approximately $130 million) out of a total of $162.05 million in liquidations are short positions. This suggests that crypto traders anticipated a significant Bitcoin price decline due to the volatile market sentiment. However, Binance reported the most liquidation the past day, $54 million.
Bitcoin saw over $75 million worth of long and short liquidation in the past day. According to the data, Bitcoin short positions worth $61.21 million were liquidated.
