As of November 12, 2024, assets worth $1.07 billion were liquidated on the cryptocurrency market.
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Johny Smith
2024/12/11
3 mins read
In the last 24 hours, the Bitcoin (BTC) rate made an impressive leap, jumping by 8% and setting a new all-time high at around $90,000. Along with this, a wave of liquidations followed, totaling more than $1.07 billion. It is noteworthy that they were closed as long, and short positions, with the 1st accounting for about 52.24% of the total volume, which is approximately $559 million, and the 2nd – 45.56%, or about $487 million.
The highest volume of liquidations was recorded on Binance – $420 million, followed by OKX with $276 million and Bybit with $213 million. HTX and CoinEx close the list with $120 million and $27 million, respectively. The massive liquidation indicates that many traders were unprepared for such dramatic price swings in BTC, resulting in significant losses for those holding high-leverage positions.
Analysts believe that this situation may indicate growing interest in Bitcoin from major players. Liquidations often fuel activity as traders are forced out of losing positions, causing further fluctuations. In addition, mass liquidations may help reduce short-term volatility by reducing leverage.
Experts note that volatility can attract new investors to the market, who see Bitcoin not only as a speculative instrument, but also as an asset for long-term investments. Such movements also intensify discussions about the role of BTC as “digital gold” and a “safe haven” for capital in an unstable global economy.
The current situation shows that interest in cryptocurrencies continues to grow, and increased liquidity creates the conditions for larger movements in the market. In the future, this may encourage BTC rate to new records if demand is supported by both retail investors and institutional participants.
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