CEX liquidations reached $1.16B in 24 hours, driven by Israel’s military strike on Iran.
Binance and Bybit together accounted for over 71% of total liquidations in the crypto market.
Bitcoin led liquidations with $448M, followed by Ethereum and other cryptocurrencies.
Analytical platform CryptoDiffer reported that $1.16 billion worth of liquidations occurred on centralized exchanges (CEXs) over the past 24 hours. Geopolitical tensions, particularly Israel’s military strike on Iran, are widely seen as the main driver behind this sharp surge. The attack caused a stir in the world markets, leading to a sharp drop in Bitcoin’s value and widespread liquidations across major cryptocurrency exchanges.
Binance and Bybit Drive 71% of Crypto Liquidations
Binance made the largest contribution to the liquidations. Liquidations on the exchange totaled $458 million and constituted 39.48% of the total. Bybit followed close behind, having $376 million, or 32.41% of the total. Together, they accounted for over 71% of all liquidations, demonstrating their massive influence on the cryptocurrency market.
Other exchanges also saw substantial liquidations. …
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