Add as a preferred source on GoogleCrypto Liquidations Reach $335 Million as Long Positions Lead
Bitcoin long liquidations totaled $47.54 million, while Ether’s long and short figures were closer at $35.42 million and $32.62 million.
Crypto traders faced about $335 million in forced position closures over a 24-hour period tallied Thursday, with long positions accounting for about $208 million as losses outweighed those on shorts.
Short positions accounted for about $126 million. Bitcoin (BTC) had $47.54 million in long liquidations and $19.77 million in short liquidations. Ether (ETH) had $35.42 million in long liquidations and $32.62 million in short liquidations.
A liquidation is an exchange’s forced closure of a leveraged position when a trader can no longer meet margin requirements. Long positions bet on price gains, while short positions bet on declines.
Bitcoin traded at $79,985, down 0.86% over 24 hours, as of 9:44 a.m. ET (13:44 UTC).
An earlier 24-hour liquidation tally from Oct. 24 put total liquidations at $335.5 million, with $283 million, or 84%, from long positions.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.