Cryptocurrency markets liquidate $171.7 million in leveraged positions over 24 hours, with short positions accounting for 80.16%.

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In the cryptocurrency market over the past 24 hours, approximately $171.7 million (about 251 billion won) worth of leverage positions were liquidated.

According to the currently aggregated data, short positions accounted for about 80.16% of the liquidated positions, showing an overwhelming proportion. Based on a 4-hour timeframe, the total liquidation amount was $26.36 million, with short positions at $21.18 million and long positions at $5.18 million.

4시간 거래소 별 청산 데이터 / 코인글래스
4-hour exchange liquidation data / CoinGlass

Binance had the highest position liquidations over the past 4 hours, with a total of $13.52 million (51.17% of the total) liquidated. Among this, short positions accounted for $10.64 million, or 78.73%.

Bybit was the second-highest exchange, with $5.13 million (19.43%) of positions liquidated, of which short positions were $4.10 million (79.82%).

Gate.io saw approximately $2.94 million (11.14%) in liquidations, with the highest short position ratio among major exchanges at 93.97%.

Notably, Hyperliquid and BitMEX only liquidated 100% short positions, and most exchanges showed an overwhelmingly high short position liquidation rate.

암호화폐 청산 데이터 / 코인글래스
Cryptocurrency liquidation data / CoinGlass

By coin, Ethereum (ETH) recorded the highest liquidations. Approximately $66.98 million in Ethereum positions were liquidated over 24 hours, and $36.81 million (long $10.72 million, short $26.09 million) over 4 hours. This is related to Ethereum's 2.79% price increase over 24 hours.

Bitcoin (BTC) had about $23.40 million in positions liquidated over 24 hours, with $8.59 million (long $3.72 million, short $4.87 million) over 4 hours. Bitcoin is currently trading at $115,007, up 1.19% over 24 hours.

Solana (SOL) saw approximately $9.06 million liquidated over 24 hours, with $5.40 million over 4 hours. Solana's price rose 3.40% to $168.05.

XRP recorded $8.01 million in liquidations over 24 hours with a 1.96% price increase, while Doge saw $4.63 million in liquidations with a 3.67% rise.

Notably, the MYX Token experienced a large-scale liquidation of $14.99 million over 24 hours, and the PROVE Token recorded $9 million in liquidations.

With most major altcoins showing price increases between 2-4%, this large-scale short position liquidation suggests the possibility of a short-term bullish trend in the cryptocurrency market. Particularly noteworthy is the massive short position liquidation alongside Ethereum's strong upward momentum.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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