Market records $128 million in short liquidations as Bitcoin breaks $64,500 Insights BitcoinDerivatives
Market records $128 million in short liquidations as Bitcoin breaks $64,500
Bitcoin's ascent to $64,890 sparks $193 million in net liquidations.
Bitcoin’s price reached $64,890 as of press time, up from $62,849 24 hours earlier. This led to $193.63 million in total liquidations over the past day. According to data from Coinglass, 57,624 traders were liquidated during this period.
The largest single liquidation order, valued at $9.59 million, occurred on OKX’s BTC-USDT-SWAP. Short positions dominated the liquidations, accounting for $128.04 million, while long positions amounted to $65.65 million.
In the last hour, liquidations totaled $10.99 million, with shorts comprising $10.59 million and longs $396,390. Over the past four hours, liquidations reached $32.38 million, with $28.47 million in shorts and $3.91 million in longs.
Bitcoin led the liquidations by asset, contributing $67.99 million, followed by Ethereum at $39.05 million. The surge in Bitcoin’s price applied pressure on traders holding short positions after a week of pressure on longs saw $144 million liquidated.
Analyst 
Liam 'Akiba' Wright
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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