- Approximately $380 million and $120 million were made up of long and short liquidations, respectively.
As bitcoin retreats from $100,000, cryptocurrency liquidations have surpassed half a billion dollars in the last day.
The cryptocurrency liquidations tracker Coinglass reports that as of 2:30 p.m. ET (19:30 UTC) on Nov. 24, 197,551 dealers had liquidated $500.45 million worth of cryptocurrencies.
Approximately $380 million and $120 million were made up of long and short liquidations, respectively.
Of the total cryptocurrency liquidations during the last day, $70.4 million came from Bitcoin, followed by $43.4 million from Ethereum and $35.3 million from Dogecoin.
Bitcoin hit $99,320 on Nov. 22 earlier this week, putting it in danger of breaking $100,000 for the first time ever.
Following Republican Donald Trump’s victory in the US presidential election on November 6, 2024, the token’s value increased significantly, reaching roughly $75,000 at that time.
Bitcoin has dropped 1.4% in the last day and is still trading at $96,256 as of 2:30 p.m. ET on Nov. 24.
Bitcoin has a market capitalization of $1.9 trillion and generated $48.9 billion in trading activity in a single day.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
