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Bitcoin ETFs bring in over $6 billion in November after another $1 billion day Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders Bitcoin surges to $97k as market leverage hits historic $63 billion Memecoin revival drives Solana DEX Raydium past Tether in fees
Over $320M in liquidations in the past 24 hours, as Bitcoin loses $20k support Over $320M in liquidations in the past 24 hours, as Bitcoin loses $20k support James Van Straten · 2 years ago
Insights Bitcoin

Over $320M in liquidations in the past 24 hours, as Bitcoin loses $20k support

Roughly 80% of liquidations were long, while Bitcoin liquidations accounted for $120 million in the past 24 hours

James Van Straten / @jvs_btc / Mar. 10, 2023 at 9:36 am UTC

Quick Take

  • Due to the fallout of SIlvergate Capital and possible further contagion in the bank and financial sector.
  • As a result, Bitcoin went below $20k and saw over $320 million of liquidations in crypto, while Bitcoin saw $120 million of liquidations.
  • Futures’ long liquidation dominance shows the market was extremely long which shows the number of investors that were caught offside.
Liquidations: (Source: Coinglass)
Liquidations: (Source: Coinglass)
Futures Long Liquidation DOminance: (Source: Glassnode)
Futures Long Liquidation DOminance: (Source: Glassnode)
Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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In this insight

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