Crypto Futures Liquidations In Past 24 Hours Have Reached $153 Million
The crypto market has experienced significant volatility in the past day, resulting in a notable drop in assets such as Bitcoin. This volatility has also affected the futures market, leading to a large number of liquidations.
Key Points:
– Liquidation occurs when a contract is forcibly closed by the derivative platform due to accumulating losses.
– In the past 24 hours, the total liquidations reached $153.3 million, with $53 million occurring in the last 12 hours.
– Approximately 90% of the liquidations involved long contracts, triggered by a sharp decline in asset prices.
– The crypto sector often experiences mass liquidation events due to its inherent volatility and the availability of high leverage on exchanges.
– Bitcoin accounted for a third of the total market liquidations, followed by Ethereum, Litecoin, Bitcoin Cash, and others with lesser amounts.
Hot Take:
The high volatility and accessibility of leverage in the crypto futures market make it risky for uninformed traders. The recent liquidation events serve as a reminder of the potential losses involved in trading cryptocurrencies. It is crucial for traders to stay informed and exercise caution when navigating this market.
By
By
By
By