Liquidation Spree Continues in Crypto Markets, with $24 Million in Lost Profits

IconCryptoNewsTerminal Staff22 Jul, 2024

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Liquidation Spree Continues in Crypto Markets, with $24 Million in Lost Profits

The crypto derivatives market has experienced a significant amount of liquidations in the past 24 hours, resulting in traders losing $24 million in total. The majority of the liquidations occurred in the Bitcoin, Ethereum, and Solana markets. The largest liquidations occurred in the Bitcoin market, where traders lost over $26 million. The liquidation ratio was 53.24% for long positions and 46.76% for short positions. The Ethereum market also saw a significant amount of liquidations, with traders losing over $18 million. The liquidation ratio was 77.01% for long positions and 22.99% for short positions. The Solana market experienced a smaller amount of liquidations, with traders losing over $5 million. The liquidation ratio was 68.09% for long positions and 31.91% for short positions. The recent liquidations have been attributed to a number of factors, including the recent decline in the price of Bitcoin and other cryptocurrencies. The liquidations have also been caused by the high leverage used by many traders. The liquidations have had a negative impact on the crypto derivatives market, and they are likely to continue in the coming weeks.

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