Crypto News – Over $138 million worth of leveraged cryptocurrency positions have been liquidated in the last 24 hours due to increased market volatility.
Amid Severe Market Volatility, Liquidity on Central Exchanges Increased in the Last 24 Hours
According to Coinglass statistics, the majority of liquidations involved bullish positions, which resulted in a loss of over $120 million, while short positions only made up about $18 million of the total liquidations.
The Bitcoin price has fallen below $41,000 in the last day, a decrease of more than 2.5%. Bitcoin’s price spiked above $48,000 following the approvals on January 10 and then had a precipitous decline to about $43,000. A further slide below the $40,000 threshold is now anticipated by several analysts.
Majority of BTC Liquidations Belong to Long Positions
Since the SEC approved various spot Bitcoin ETFs, the annualized volatility of bitcoin has grown. The Block’s Data Dashboard shows that annualized Bitcoin volatility was approximately 46% before acceptance, while it is currently above 52%.
The volatility has led to the liquidation of almost $30 million worth of leveraged Bitcoin positions. The majority of BTC liquidations are longs, with over $24 million in Bitcoin’s long positions wiped out in the past 24 hours, per Coinglass data.
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