Binance saw almost half of the $114M liquidations in the past 24 hours Quick Take
Bitcoin has been struggling to regain the $35,000 price level over the weekend, causing a wave of liquidations in the crypto market.
In the past 24 hours, the crypto market witnessed approximately $114 million in liquidations — $66 million on the long side and $48 million on the short side.
Nearly half of the total liquidations — approximately $50 million — took place on Binance. Bitcoin bore the brunt of these liquidations, with over $30 million liquidated, indicating a strong market response to the price fluctuations.
An examination of the liquidation heatmap from Nov. 5 presents an interesting trend: a significant amount of leverage congregated around the $34,400 mark. As Bitcoin touched this level, it resulted in a surge of long liquidations.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
