The total amount of liquidations on the crypto market over the past 24 hours exceeded $560 million. Most of the forced closed positions were in BTC and ETH.
The sharp rise in the price of BTC to a new annual high and the subsequent pullback cost traders $170 million. Market participants who opened positions in Ethereum (ETH) also suffered significant losses – the jump in the rate of the second largest cryptocurrency by capitalization to $3,700 cost them more than $90 million .
The leaders in liquidations among altcoins were SOL, DOGE, SHIB and several other tokens.
More than 90% of liquidations were distributed between OKX, Bybit, Binance and Huobi. The largest order was executed by Binance—the exchange closed the BTCUSDT position in the amount of $8.23 million.
What's happening to the price of BTC
Yesterday, the price of BTC once again updated its annual high and tried to break above the ATH, coming close to the $69,000 mark.
The rate of the main cryptocurrency has been growing practically without pullbacks for several weeks in a row. Market experts believe that the reason for the prolonged rally was the approaching halving and the consistently high level of investor interest in spot Bitcoin ETFs.
Source: Cryptocurrency
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