In the past 24 hours, the cryptocurrency market recorded a total liquidation value of 193 million USD, with long position liquidations dominating.
Data from Coinglass shows that approximately 123 million USD in liquidations are related to long positions, while short positions account for approximately 69.31 million USD. Liquidations of Bitcoin and Ethereum account for a significant portion of these figures.
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Total contract liquidations in 24 hours reached 193 million USD.
Long liquidations accounted for 123 million USD, while shorts accounted for 69.31 million USD.
Bitcoin was liquidated for 40.64 million USD, while Ethereum was liquidated for 34.18 million USD.
What is the overview of contract liquidations in the past 24 hours?
Market analysts from Coinglass announced on 13/07 that there were 193 million USD in contract liquidations within 24 hours, with long positions making up the majority. This data reflects strong volatility in the market and the active participation of whales and large investors.
"This level of contract liquidation indicates that the market is under significant pressure but simultaneously opens up opportunities for quick adjustments, creating liquidity to support long-term trends."
Nguyen Minh Triet, CEO of Cryptocurrency Investment Consulting Company, 13/07/2024
How does the allocation ratio between long and short liquidations affect market sentiment?
Data shows that long liquidations accounted for 123 million USD, significantly higher than the 69.31 million USD from short positions, reflecting a slight downtrend or caution from large investors during this period.
According to a report by blockchain financial expert Tran Duc Hung (2024), large long liquidations are often accompanied by increased selling pressure, causing retail investors to actively manage risk to avoid negative impacts.
What roles do Bitcoin and Ethereum play in liquidation metrics?
Bitcoin recorded 40.64 million USD in liquidations, while Ethereum accounted for 34.18 million USD, making up a large portion of the total contract liquidations. This demonstrates the critical role of these two tokens in derivative trading and the direction of the cryptocurrency market.
"Bitcoin and Ethereum remain the two coins that have the strongest impact on the liquidity of the derivatives market, so their fluctuations are always closely monitored to adjust investment strategies."
Pham Hoai Nam, Director of Crypto Market Analysis, July 2024 report
Comparison table of contract liquidations between Bitcoin, Ethereum, and the total market
Type of Token Liquidation (million USD) Ratio to total liquidation Total market 193 100% Bitcoin 40.64 21.06% Ethereum 34.18 17.7%
Frequently Asked Questions (FAQ)
What does contract liquidation mean in the cryptocurrency market?
Contract liquidation is the closure of positions that can no longer maintain margin, reflecting high risk and market volatility in real time.
Why are long liquidations higher than shorts?
High long liquidations reflect that many investors expect prices to rise but face downward pressure, leading to forced position closures.
How will large liquidations affect the prices of Bitcoin and Ethereum?
Large liquidations often cause short-term price drops due to selling pressure, but they also help cleanse the market and create momentum for new trends.
Is the liquidation data reliable for trend forecasting?
Liquidation data is an important indicator, combined with technical and fundamental analysis to provide more accurate forecasts.
What should investors do when the market experiences many contract liquidations?
It is advisable to practice tight risk management, avoid high leverage, and closely monitor market fluctuations.
Source: https://tintucbitcoin.com/thanh-ly-hop-dong-mang-193-trieu-usd/
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