Liquidation Frenzy! $43.86 Million Vanishes in 24-Hour Crypto Futures Apocalypse
CryptoNewsTerminal Staff20 May, 2024
Liquidation Frenzy! $43.86 Million Vanishes in 24-Hour Crypto Futures Apocalypse
The crypto markets have witnessed a brutal liquidation spree, with $43.86 million worth of positions liquidated in just 24 hours. This forced liquidation has left a trail of losses for both long and short traders. Here's a detailed breakdown: Bitcoin (BTC): Liquidation scale: $20.27 million Buy liquidations: $13.51 million Sell liquidations: $6.76 million Liquidation ratio: 66.67% long Ethereum (ETH): Liquidation scale: $16.52 million Buy liquidations: $14.88 million Sell liquidations: $1.65 million Liquidation ratio: 90.04% long Solana (SOL): Liquidation scale: $7.07 million Buy liquidations: $4.63 million Sell liquidations: $2.44 million Liquidation ratio: 65.51% long The high liquidation ratio for ETH indicates that a significant majority of the liquidated positions were long, suggesting that traders were overly optimistic about the market. The massive sell-offs have caused a sharp decline in crypto prices, leaving many investors in the red.
