Traders liquidated over $166m amid BTC price decline

Traders liquidated over 6m amid BTC price decline

Between Dec. 25 – 26, the volume of liquidations in crypto markets exceeded $166 million.

According to CoinGlass, altcoins account for a significant share of losses. At the time of writing, the daily volume of liquidations is $166.2 million, with a predominance of long positions.

Traders liquidated over $166m amid BTC price decline - 1
Source: CoinGlass

In addition to the traditional Bitcoin (BTC) and Ethereum (ETH), trading pairs with Solana (SOL) and ORDI are among the leaders in terms of loss volume.

Traders liquidated over $166m amid BTC price decline - 2
Source: CoinGlass

The most significant liquidations occurred on the Binance, OKX, and Bybit exchanges. As with the market, these are predominantly long positions – more than 60%.

A series of liquidations occurred against the backdrop of a falling BTC rate. The cryptocurrency sank by 2%, reaching $42,750.

Traders liquidated over $166m amid BTC price decline - 3
Source: CoinMarketCap

In 2023, Bitcoin outperformed almost all other asset classes including the global stock market and gold in growth dynamics.

BTC growth stood out this year growing by 163% in 2023.

Amid expectations of an imminent decline in interest rates, easing regulatory pressure from the United States and the expected approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC), analysts expect continued growth in crypto assets in 2024.

Follow Us on Google News

About Author

scroll to top