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Positions worth more than $200 million were liquidated on the crypto market

From December 3 to 4, the volume of liquidations on futures on the cryptocurrency market amounted to $200 million, according to CoinGlass. During this period, Bitcoin rose by more than 5% and fluctuated between $39,500 and around $41,700.

Over the past 24 hours, 71,239 traders’ positions were liquidated. Most of the liquidations were on short positions – $156.8 million, while losses on long positions amounted to almost $45 million.

The volume of liquidations on futures on the crypto market in the period from December 3 to 4. Source: CoinGlass.

The majority of liquidations occurred on trading pairs with Bitcoin and Ethereum – $80 million and $30 million, respectively.

It is noteworthy that the largest amount of liquidations was recorded on the Binance cryptocurrency exchange – $77 million. On another OKX crypto exchange, traders’ positions were closed for $54.6 million.

It should be noted that a single liquidation order was executed on the Bitmex platform in the amount of $6.01 million in the XBT/USDT trading pair.

On the night of December 4, the Bitcoin rate exceeded $41,000 and set a yearly maximum. The last time the asset reached this level was in April 2022. At the time of writing, the first cryptocurrency is trading near $41,500, according to TradingView.

Source: Cryptocurrency

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