With the decline of Bitcoin (BTC) to $ 40,500, more than $ 400 million was deleted from the cryptocurrency market.
What has been happening in Bitcoin and cryptocurrencies for several months? continued rally long positions in the cryptocurrency market to experience an increase It was instrumental. With excessively increasing funding rates, the market He was expected to make a correction.
The decline in Bitcoin and cryptocurrencies in the morning hours of Turkish lira brought the funding rates back to normal. hundreds of millions of dollars resulted in the liquidation of the position.
According to the data provided by the on-chain analysis platform Coinglass, 24 hours in $410 million futures position was liquidated. These purges 87% are long positions took place on. Positions in liquidation 357 million dollars part long When creating directional transactions 53 million dollar short The position exploded.
Many of the positions that were liquidated were again specific to Bitcoin and Ethereum. $103 million in Ethereum in Bitcoin whereas $82 million The position was liquidated. In terms of altcoins, yesterday’s big risers are: Dogecoin (DOGE) And Avalanche (AVAX) took the lead.
In the case of stock exchanges, the biggest liquidation $171 million while taking place at OKX with Binance is in second place with 128 million dollars. took place..
The largest liquidation opened in OKX 8.23 million dollar Bitcoin It became a long position.
According to CoinGecko data, in the last 24 hours 4.4% decrease living Bitcoin, at the time of writing from $41,936 is being traded.