Cryptocurrency market has seen a massive liquidation of $16.77 million in the past hour. The data, sourced from Coinglass, indicates that the majority of these were long orders.
Long positions, which are bets that the price of an asset will rise, accounted for a staggering $16.03 million of the total liquidations. On the other hand, short positions, which are bets that the price will fall, were liquidated for $770,000.
Breakdown of Liquidations
The liquidations over different time periods are as follows:
- 1-hour Liquidation: Total liquidations amounted to $32.74 million, with long positions accounting for $32.40 million and short positions making up $339.68 thousand.
- 4-hour Liquidation: The total liquidations were $56.17 million, with long positions at $53.03 million and short positions at $3.14 million.
- 12-hour Liquidation: The total liquidations reached $71.05 million, with long positions contributing $56.55 million and short positions adding $14.50 million.
- 24-hour Liquidation: The total liquidations were a whopping $131.81 million, with long positions at $68.68 million and short positions at $63.12 million.
