🧨 Cryptocurrency Market Experiences Notable Liquidations

In the past 24 hours, the crypto market has experienced significant fluctuations with total liquidations reaching up to 135 million USD, according to data from Coinglass. Specifically:

🔹 Short positions were “blown away” the most, accounting for 106 million USD, indicating that bears were forced to exit their positions when prices unexpectedly reversed upwards.

🔹 Long positions were liquidated for about 28.87 million USD, reflecting the current upward momentum that caught sellers off guard.

📉 Coins significantly affected:

• Ethereum (ETH): Liquidated the most with 41.08 million USD, accounting for ~30% of total market liquidations.

• Bitcoin (BTC): Followed with 29.8 million USD liquidated, primarily from short positions as BTC prices increased slightly.

🧠 Market implications:

• The higher liquidation of shorts suggests the market may be “hunting stops” or showing signs of slight recovery.

• However, this is not necessarily a clear reversal signal, as liquidations mainly stem from quick reactions rather than large capital inflows.

🎯 Note: This period is highly volatile, so investors need to be cautious, avoid FOMO, and prioritize observing price behavior around support/resistance zones. #btc #ETH