Bitcoin’s rise past $110,000 has sparked widespread liquidations, with traders that hold short positions bearing the brunt of the losses. Data from Coinglass show a total of $404 million (₱22.5 billion) in liquidations over the past 24 hours.
Key Details
- Total crypto liquidations in 24 hours: $404.46 million
- Short positions accounted for: $339.23 million
- Largest single liquidation: $3.28 million on Bybit (BTCUSDT)
- Total traders liquidated: 99,092
- Bitcoin price: $110,164.48 (+3.63%)
Exchanges Data
Bybit led in liquidations with over $80 million, of which more than 98% were short positions. Other exchanges with significant liquidations included Gate, Binance, and HTX.
- Bybit: $80.28 million (98.56% short)
- Gate: $47.49 million (96.24% short)
- Binance: $35.28 million (91.95% short)
- HTX: $22.91 million (98.82% short)
Bitcoin’s price movement has had a strong ripple effect across altcoins.
- Ethereum rose above $2,640 with a 4.5% gain.
- Solana also saw a 3% increase, trading near $160.
- Meme tokens like Dogecoin and Shiba Inu saw gains of 4.5% and 2.5%, respectively.
Break out Phase but Caution Should Be Taken
According to the trader who goes by the name PlanC on X, the consolidation phase has been long enough that a breakout should now begin.
Despite the strong market rally, caution remains as liquidations reflect the ongoing volatility.
The rally has also coincided with minor upticks in broader financial markets, including the Nasdaq and S&P 500, although crypto’s movement appears largely self-contained.
This article is published on BitPinas: Bitcoin Rally Triggers $404M in Liquidations, Mostly Short Positions
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