Perpetual Futures Liquidation Events: BTC, ETH, and SOL See Significant Liquidations
CryptoNewsTerminal Staff07 Aug, 2024
Perpetual Futures Liquidation Events: BTC, ETH, and SOL See Significant Liquidations
- Cryptocurrency traders have experienced substantial liquidations in the 24-hour perpetual futures market. The forced liquidation volume and liquidation ratio for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are as follows: - BTC Liquidation Volume: $58.51 million (Long: $30.53 million, Short: $27.98 million) - Liquidation Ratio: Long 52.18% - ETH Liquidation Volume: $64.53 million (Long: $47.04 million, Short: $17.49 million) - Liquidation Ratio: Long 72.9% - SOL Liquidation Volume: $18.47 million (Long: $10.56 million, Short: $7.90 million) - Liquidation Ratio: Long 57.21% These figures indicate a significant number of traders being forced to close their positions due to market volatility. The data shows a higher percentage of long liquidations for BTC and SOL, suggesting that traders were more aggressive in their long positions. In contrast, ETH experienced a more balanced distribution of long and short liquidations. Understanding liquidation dynamics is crucial for traders, as it can help them manage risk and avoid substantial losses. By monitoring liquidation data, traders can gain insights into market sentiment and adjust their trading strategies accordingly.
