The price of Bitcoin surged to $729,000 yesterday, close to its all-time high of $737,000, before retreating to $692,000 at press time. This volatility has resulted in a total liquidation of $289.93 million in the past 24 hours, affecting 96,574 traders, according to Coinglass.
Long positions suffered the largest losses, with a liquidation amount of US$259.21 million, and short positions suffered losses of US$30.72 million. The largest single liquidation order occurred in Binance's BTCUSDT pair, worth US$11.26 million.
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Bitcoin had the highest liquidation volume at $89.72 million, followed by Ethereum at $45.21 million, and other cryptocurrencies totaled $47.07 million. Binance had the highest liquidation volume at $11.56 million, mainly from long positions, accounting for 89.12% of its total liquidation volume. It was followed by Bybit and OKX, with liquidations of $5.33 million and $5.19 million, respectively, also mainly affecting long positions.
