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Cryptocurrency Market Witnesses $196 Million Contract Liquidation
It reveals that the cryptocurrency market has experienced a contract liquidation of $196 million in the last 24 hours. A total of 62,725 people were affected by this liquidation.
The liquidation was divided into two categories: long positions and short positions. Long positions, which are bets on the price of a particular asset to increase, accounted for $104 million of the total liquidation. On the other hand, short positions, which are bets that the price of an asset will fall, amounted to approximately $92.62 million.
In terms of certain cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) have been the most affected. The total amount of Bitcoin liquidated was approximately $69.92 million, while Ethereum saw a liquidation of approximately $44 million.