The cryptocurrency market recorded a total contract liquidation of 160 million USD in the past 24 hours, with greater liquidation pressure from short positions compared to long.
Updated data from Coinglass shows that over 58.6 million USD in long contracts and over 101 million USD in short contracts have been liquidated. Bitcoin and Ethereum together account for nearly 70 million USD in total liquidation.
MAIN CONTENT
The cryptocurrency market liquidated a total of 160 million USD in contracts within 24 hours.
Short contract liquidation outperformed with nearly 101 million USD, while long was only 58.6 million USD.
Bitcoin and Ethereum account for nearly 70 million USD in the liquidation.
How much cryptocurrency contract liquidation has occurred in the past 24 hours?
Coinglass data shows that the total value of cryptocurrency contracts liquidated within 24 hours reached 160 million USD, reflecting strong market volatility with many positions being forced to close.
This figure represents significant distribution pressure, particularly affecting investors trading with leverage on major exchanges.
Analysis of the long and short liquidation ratio in contract liquidation volume
The short position liquidation reached about 101 million USD, nearly double the 58.6 million USD liquidation of long positions, indicating that the market is currently under stronger downward pressure.
Financial expert Tran Minh Long commented: “The outstanding short position liquidation proves that many investors betting on a downward trend were surprised when the market made a short-term reversal.”
The pressure of short and long contract liquidations is an important indicator reflecting the complex and volatile state of the cryptocurrency market, requiring investors to pay attention to effective risk management.
– Tran Minh Long, Cryptocurrency Financial Expert, 2024
How do Bitcoin and Ethereum contribute to the total contract liquidation?
Bitcoin faced contract liquidations worth 35.37 million USD, while Ethereum did not lag behind with 34.04 million USD being liquidated, together accounting for nearly 44% of the total contract liquidation value within 24 hours.
This reflects the central role and high volatility of the two leading cryptocurrencies in the market, directly influencing investor sentiment and overall trading trends.
Bitcoin and Ethereum remain two assets heavily impacted by market volatility, with their liquidation market share significantly affecting the overall cryptocurrency landscape.
– Nguyen Phuong Nam, CEO of the cryptocurrency research company, 6/2024
Comparison table of BTC and ETH contract liquidation (million USD)
Currency Contract Liquidation Value % of Total 160 million USD Bitcoin (BTC) 35.37 22.11% Ethereum (ETH) 34.04 21.28% Others 90.59 56.61%
Frequently Asked Questions
1. What is cryptocurrency contract liquidation?
Contract liquidation occurs when leveraged positions are closed due to losses exceeding the margin level, indicating high volatility and risk in the cryptocurrency market.
2. What does the long and short liquidation ratio reflect about the market?
This ratio indicates price trends and investor sentiment; a high short liquidation ratio often warns of significant downward pressure.
3. Why do Bitcoin and Ethereum account for a large proportion of liquidation?
As the two main currencies, the trading volume and leverage on BTC and ETH are large, making them most susceptible to market fluctuations.
4. What should investors do when the market experiences large liquidations?
Need to manage risk tightly, avoid using excessive leverage, and closely monitor price fluctuations to prevent sudden drops.
Source: https://tintucbitcoin.com/thanh-ly-hop-dong-mang-tien-dien-tu-160-trieu/
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