24-Hour Cryptocurrency Perpetual Futures Liquidations Hit Millions

24-Hour Cryptocurrency Perpetual Futures Liquidations Hit Millions

The cryptocurrency market has seen a significant amount of liquidations in the past 24 hours, with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) being the most affected. According to data from Coinglass, the total liquidation volume for BTC futures in the past 24 hours was $73.5 million, with long positions accounting for $62.36 million and short positions accounting for $11.14 million. The liquidation rate for BTC longs was 84.84%. For ETH futures, the total liquidation volume was $80.33 million, with long positions accounting for $75.11 million and short positions accounting for $5.23 million. The liquidation rate for ETH longs was 93.49%. SOL futures also saw a significant amount of liquidations, with a total volume of $15.89 million. Long positions accounted for $14.11 million, while short positions accounted for $1.78 million. The liquidation rate for SOL longs was 88.82%. These liquidations come amid a period of volatility in the cryptocurrency market, with BTC, ETH, and SOL all experiencing significant price swings in recent days. The liquidations may have been triggered by a combination of factors, including market volatility, margin calls, and stop-loss orders. Traders should be aware of the risks of trading cryptocurrencies and should always use caution when using leverage.