Bitcoin (BTC) has reached the $64,000 level for the first time since late 2021, with hundreds of millions of dollars worth of liquidations hitting the crypto market.
New data from market intelligence platform Coinglass reveals that over the past 24 hours, traders experienced liquidations worth more than $638 million, the majority of which were short positions.
The flagship digital asset itself has evaporated a staggering $185.62 worth of derivatives contracts at the time of writing, but major smart contract platform Ethereum (ETH) and dog-themed meme asset Dogecoin (DOGE) have evaporated. Other contracts evaporated $77.53 million and $31.62 million, respectively.
Other notable crypto assets that saw large-scale liquidations on the final day include ETH rival Solana (SOL), which lost $10.17 million, and memecoin Pepe (PEPE), which lost $11.91 million worth of contracts. Here are some things I did.
According to the data, most of the liquidations took place on four different centralized crypto exchange platforms, including Binance, OKX, Huobi, and Bybit.
In a new thread, Hunter Horsely, CEO of Bitwise Invest, says: To tell With 31,300 followers on social media platform
“Bitcoin will eat up gold’s TAM faster than people expect. A $250,000 Bitcoin will happen much sooner than most people who have been following this space for years imagine.” There is a possibility.
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The market has increased tenfold. ”
Earlier today, widely followed cryptocurrency analyst Don Alto said that BTC's big move marks Bitcoin's “last resistance” before it hits a new all-time high, adding that Bitcoin's sharp rise in He added that he will remain bullish on the king of cryptocurrencies until he sees a major reversal.
At the time of writing, Bitcoin was trading at $63,235, up 8.2% in the past 24 hours.
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