Hot Data Follows Bitcoin (BTC) Rally: How Much of Short Positions Have Been Liquidated?

Bitcoin (BTC), It briefly surpassed $21,000 on Jan. 13 for the first time since FTX events kicked off in early November. After a slight pullback early Saturday morning, BTC is trading at approximately $20,800 as of this writing.

On Jan. 13, $255 million of spot Bitcoin was purchased, while the liquidation of $240 million of Bitcoin short pushed BTC as high as $21,300.

$721 Million Liquidation In The Last 24 Hours In Bitcoin And Cryptocurrency Market

According to data from Coinglass, a total of $721 million liquidation took place in the general cryptocurrency market in the last 24 hours. In addition, a total of 132,021 traders were liquidated.

Interestingly, despite the large number of BTC purchases in the past day, the volume of Bitcoin coming out of exchanges has reached its highest level since the beginning of the year. As $255 million of BTC was moved to self-custody wallets, most of the Bitcoin purchased from the exchange was withdrawn from the market almost instantly.

Most withdrawals were made in large amounts of $1 million or more. Also, the largest group were those who had withdrawn over $10 million in BTC, signaling institutional action.

On the altcoin side, with $265 million, which has experienced the most liquidation in the last 24 hours, according to the data. Ethereum (ETH) it happened. It was followed by Solana (SOL) with $27 million and Dogecoin (DOGE) with $14 million.

*Not investment advice.

For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!


source site-4