$705 million in leveraged positions liquidated within 24 hours, with short positions accounting for 88.8%.

Source: TokenPost Original Title: Cryptocurrency Market Liquidates $705 Million in Leveraged Positions in 24 Hours; Shorts Account for 88.8% Original Link: In the past 24 hours, the cryptocurrency market saw approximately $705 million in leveraged position liquidations, with short positions accounting for a staggering 88.8%.

Liquidation Data Overview

According to the latest data, long positions liquidated during this period totaled about $84.8 million, making up 11.2% of the total liquidation amount. Short positions totaled approximately $671.7 million, accounting for 88.8%.

Exchange Liquidation Distribution

The exchange with the highest liquidations saw $18.62 million liquidated (24.62% of the total), with short positions amounting to $14.29 million (76.75% of this exchange’s liquidations).

Another exchange followed closely, with liquidation amounts of $16.33 million (21.59%), and short positions reaching $15.36 million (94.06%).

Other exchanges such as Gate recorded liquidation amounts of $13.76 million (18.19%), $12.49 million (16.51%), and $7.83 million (10.35%).

Notably, short position liquidations overwhelmingly dominated at most exchanges, reflecting the recent sharp upward trend in market prices.

Liquidation by Token

By token, Ethereum (ETH) saw the highest liquidations in 24 hours at $134.03 million.

Bitcoin (BTC) liquidations totaled $76.56 million, with $23.76 million in short liquidations and $0.8 million in long liquidations over a 4-hour period. The current Bitcoin price is $91,376.1.

Solana (SOL) saw 24-hour liquidations of approximately $19 million, with $3.62 million in shorts and $0.29 million in longs over a 4-hour period. The current price is $135.84.

Ripple (XRP) liquidations stood at $7.79 million, with $1.4 million in short and $0.086 million in long liquidations over a 4-hour period. The current price is $2.0858.

Dogecoin (DOGE) saw $0.568 million in short liquidations and $0.039 million in long liquidations over 4 hours. The current price is $0.14207.

It’s worth noting that small-cap tokens such as MOODEN and PIPPIN also saw significant liquidations of $9.73 million and $7.02 million, respectively. ZEC and BCH, which are relatively smaller market cap coins, also recorded $0.9 million and $0.83 million in short liquidations over a 4-hour period, respectively.

Market Interpretation

In cryptocurrency trading, “liquidation” refers to the forced closure of a leveraged position when the trader fails to meet the margin requirements. This large-scale liquidation of short positions indicates that the recent bullish momentum in the crypto market has exceeded the expectations of many traders.

The overwhelming dominance of short liquidations suggests that upward momentum may continue, while significant liquidations in mid- and small-cap tokens indicate potential expansion opportunities in the altcoin market. At the same time, investors should be aware of the possibility of short-term corrections following such large-scale liquidations.