Bitcoin ATH Triggers $539M in Short Liquidations
- Bitcoin’s ATH caused $539M liquidations.
- Major exchanges affected: Binance, HTX, Gate.io.
- Over 118,800 traders were impacted.
Bitcoin reached a new all-time high of $111,936, leading to $539 million in short position liquidations on major exchanges including Binance, HTX, and Bybit.
Major Exchanges Involved
Major exchanges involved in these liquidations include Binance, HTX, and Bybit, where Binance is led by Richard Teng. The largest single liquidation occurred on HTX , totaling $51.56 million.
Market Impact
Bitcoin and Ethereum experienced significant losses, with liquidations totaling $469.87 million for BTC shorts and $156.492 million for ETH. Large-cap altcoins like XRP and SOL also saw increased liquidations.
Institutional buying and leverage use significantly impacted market dynamics, as described by Coinbase Premium data. This rally mirrors the 2021 Bitcoin surge that saw similar short liquidations .
Regulatory and Historical Context
No major announcements from regulators like the SEC have been made post-liquidation. Market speculation suggests U.S. spot BTC ETF inflows could have influenced demand shifts.
Historical data shows that past Bitcoin rallies often lead to high-short liquidations and subsequent price corrections. This incident signals the ongoing interplay between retail speculation and institutional market actions.
Liquidations of this magnitude underscore the volatile nature of leverage in crypto trading.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin News Today: Bitcoin's Bleeding Metric: A Market in the Crosshairs of Correction
- Bitcoin's MVRV ratio fell below its 365-day SMA, signaling potential extended market corrections as significant portions of the network enter negative value territory. - Bearish on-chain metrics like negative Spot Taker CVD and funding rates reinforce selling pressure, with altcoins like TRX showing similar downward momentum. - Key support levels at $108,800-$110,000 are critical; failure to hold could trigger further price declines and retesting of the 50-day EMA. - Market participants monitor technical
Ethereum News Today: Investor Frenzy Redirects Capital to High-Upside Altcoins Like MAGACOIN FINANCE
- MAGACOIN FINANCE's presale nears completion, drawing comparisons to Ethereum and Cardano due to rapid investor demand and Ethereum-based infrastructure. - Ethereum's impending $2B staking unlock creates liquidity shifts, redirecting capital toward high-upside altcoins like MAGACOIN FINANCE amid market volatility. - Cardano shows stagnation while meme-DeFi hybrids like Moonshot MAGAX (projected 1,000x ROI) attract attention with asymmetric returns in a maturing crypto market. - Bitcoin's 12% correction co
Chainlink Price Pulls Back as $23 Support Holds but Downside Risks Persist
Hyperliquid Breakout Points to $55 After $51 Resistance Falls
Trending news
MoreCrypto prices
More
