Over the past 24 hours, the crypto market has witnessed large liquidation activities, with over $673 million worth of long and short positions liquidated across various assets. The trend was largely dominated by Bitcoin (BTC) and Ethereum (ETH), two of the most prominent cryptocurrencies.
Bitcoin leads the pack in liquidation volumes, with a total of $188.19 million in liquidations. Ethereum follows with $180.91 million. Other cryptocurrencies, such as Dogecoin (DOGE) and XRP (XRP), recorded lower liquidation figures, standing at $17.28 million and $17.06 million, respectively. Solana (SOL) and Stellar (XLM) also appear on the liquidation chart, with volumes of $39.34 million and $17.81 million.
The distribution of liquidations across different time frames suggests that the majority of liquidations, totaling $524.92 million, occurred in long positions. Short liquidations accounted for a smaller portion, totaling $148.50 million.
Other Liquidation Data and Market Sentiment
Short-term liquidation activity is noticeable, especially in the 1-hour and 4-hour timeframes. In the past hour alone, liquidations totaled $7.71 million, with a large tilt toward short liquidations ($6.48 million) compared to long positions ($1.24 million).
The 4-hour data shows a higher spike, with liquidations totaling $217.77 million, with long positions leading the pack. This signals heightened volatility and risk within the market over the past few days, with sudden shifts in sentiment impacting positions on both sides.
The single largest liquidation over the past 24 hours occurred on the Hyperliquid platform, with a Bitcoin liquidation order worth $11.61 million. This order serves as a reflection of the market’s volatility, where high-risk trades are subject to sudden and major changes in value.
External Factors Contributing to Market Fluctuations
Various external factors, including upcoming speeches from key figures such as Federal Reserve Chair Jerome Powell, are shaping the broader market sentiment. The crypto market is monitoring Powell’s remarks, particularly following the release of the Federal Open Market Committee (FOMC) Minutes, which suggested a potential easing of monetary policy.
At the same time, the U.S. Dollar Index (DXY) has risen above 99, reaching a two-month high. This is coupled with an increase in the 10-year U.S. Treasury yield, which has surpassed 4.13%. These movements, driven by the ongoing U.S. government shutdown, have led to a “debasement trade,” with investors flocking to safer assets like gold, silver, and Bitcoin.
The CoinRemark Team
Brenda Kanana
