#ETHBreaksATH New ATH of Ethereum liquidates more than 300 million dollars
ETH breaks its all-time record and triggers massive liquidations, mainly affecting short positions.
The price of ether (ETH), the cryptocurrency of Ethereum, reached a new all-time high (ATH) yesterday exceeding USD 4,800. This caused a liquidation volume not seen in the last six months.
According to data from Coinglass, in the ETH market, approximately USD 284 million in short positions and USD 80 million in long positions were recorded yesterday, totaling USD 364 million.
In other words, the majority of liquidations affected investors who were betting on a price drop.
The daily chart shows that the bar corresponding to the short liquidations of ETH this Friday was the highest in the last six months, reflecting the direct impact of the unexpected price surge on short traders...
With its rise to a new all-time high price, the crypto asset with the most liquidations on the day was ETH. Meanwhile, those of bitcoin (BTC) were USD 67 million in long positions and USD 34 million in short positions, a low amount in total compared to its typical behavior.
This occurs while BTC remains in a consolidation period after reaching an ATH of USD 122,000 last week.
Liquidations are automatic closures of positions when the market moves against an investor's bet and they run out of margin to cover losses. $ETH
