$200 million liquidated in 24 hours as Bitcoin rises to $65k then falls

In the past 24 hours, a total of $208.8 million in liquidations occurred across the crypto market. The activity affected 67,621 traders, with the most significant single liquidation order, valued at $5.42 million, taking place on Binance for the BTCUSDT pair, according to Coinglass.

Long liquidations accounted for $91.73 million, while short liquidations were slightly higher at $116.78 million. Bitcoin saw $68.71 million in liquidations, followed by Ethereum with $40.27 million. Among exchanges, Binance led with $101.73 million in liquidations, followed by OKX at $56.90 million and Bybit with $19.06 million.

More shorts were liquidated yesterday evening as Bitcoin rose toward $64,000. However, a retracement to around $62,700 saw longs liquidated early this morning.

The $116 million short liquidation was one of the largest in the past month, with July 8 being the highest at around $154 million.

Analyst

Liam 'Akiba' Wright

Editor-in-Chief at CryptoSlate

Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

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