$BTC The liquidation volume exceeded $870 million in a single day amid the rise of Bitcoin above $104,000.
On May 8-9, the price of Bitcoin crossed the $104,000 mark.
Against this backdrop, the liquidation volume in the cryptocurrency market exceeded $870 million in 24 hours.
Most of the liquidations were suffered by traders with long positions.
Nearly 190,000 traders incurred losses on futures contracts. Over $720 million was related to short positions across most assets. Meanwhile, the total liquidation amount for long positions was $147.72 million.
The losses among Bitcoin and Ethereum traders amounted to $341.98 million and $285.6 million respectively.
