The cryptocurrency market has notable contract liquidation events
Overview of contract liquidation in the past 24 hours
According to Coinglass data, in the last 24 hours, the cryptocurrency market witnessed a total liquidation amount of 307 million USD. This figure reflects significant market volatility as traders began to close positions ahead of unpredictable fluctuations. Of this, 79.2 million USD was from long contract liquidations, while 228 million USD was related to short positions. Strong contract liquidations indicate the market's potential for rapid sell-offs, causing major shocks to retail investors.
Allocation among major cryptocurrencies
Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) account for a large portion of total liquidations. Specifically, the total BTC liquidated reached 68.1 million USD, reflecting rapid loss-cutting as market values declined. Meanwhile, ETH had a total liquidation amount of approximately 90.8 million USD, demonstrating traders' sensitivity to the volatility of these smart contract tokens. These figures highlight the temporary panic sentiment within the community and have far-reaching effects on the activities of large capital sources.
Impact of contract liquidation on the cryptocurrency market
Liquidation of contracts usually occurs when the margin levels are no longer sufficient to maintain positions, leading to automatic closure of orders. Such liquidations contribute to increased short-term volatility, easily leading to a domino effect on derivatives exchanges. This phenomenon requires investors to be more cautious in margin trading strategies, especially when the market is under strong adjustment pressure. The cryptocurrency market is still in the process of determining a temporary sell-off and the potential for recovery may come from positive long-term fundamentals.
Conclusion
The cryptocurrency market in the past 24 hours has clearly demonstrated severe volatility through record liquidation figures. In particular, investors need to pay attention to the sharp decline of BTC and ETH, while adjusting strategies accordingly to avoid significant risks. These developments serve as a reminder of the high-risk nature of derivative trading in the cryptocurrency market.
Source: https://tintucbitcoin.com/thanh-ly-hop-dong-tien-dien-tu-trong-24-gio/
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