Cryptocurrency leverage market, $87.69 million liquidated in a day… Long position accounts for 84.1%

Source: TokenPost Original Title: Cryptocurrency Leverage Market, $87.69 million Liquidated in One Day… Long Position 84.1% Original Link: In the last 24 hours, approximately $87.69 million(, or about 128 billion won), worth of leveraged positions have been liquidated in the cryptocurrency market.

According to the currently aggregated data, long positions accounted for $73.81 million, which is 84.1% of the total, while short positions recorded $13.88 million, making up 15.9%.

The exchange with the most liquidations over the past 4 hours is a prominent exchange, with a total of $30.15 million(, accounting for 34.4%) of all liquidations. Among these, long positions amounted to $25.59 million, making up 84.9%.

The exchange with the second highest number of liquidations is a major exchange, where positions worth $19,656,000( were liquidated, with long positions accounting for $17,820,000), which is 90.7%(.

Hyperliquid and another exchange saw liquidations of approximately 12.86 million dollars and 12.69 million dollars, respectively, with Hyperliquid showing an overwhelmingly high long position ratio of 99.2%.

Notably, in BitMEX, long positions accounted for almost 100% of liquidations, while short position liquidations were minimal.

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In terms of coins, the positions related to Bitcoin ) BTC ( have been the most liquidated. Approximately 89.03 million dollars have been liquidated in Bitcoin positions over the last 24 hours, and on a 4-hour basis, about 34.18 million dollars ) long 29 million dollars, short 5.18 million dollars ( have been liquidated. The current price of Bitcoin is trading at 90,989 dollars.

Ethereum)ETH( had approximately 60.67 million dollars in positions liquidated over the past 24 hours. The liquidation of Ethereum accounted for the second-largest scale in the entire market.

Solana) is currently trading at $137.18, with approximately $9.75 million( long and $9.62 million, short $132,000) liquidated over the past 4 hours. In the last 24 hours, liquidations amounted to $15.92 million.

ZEC( Zcash) recorded a liquidation amount of 21.13 million dollars, exceeding expectations, and showed a significantly high liquidation rate among major altcoins. In just 4 hours, positions totaling 7.34 million dollars were liquidated, with long positions at 6.74 million dollars and short positions at 598 thousand dollars(.

Dogecoin) is trading at $0.1506, with approximately $1.21 million( long and $1.17 million, short liquidated over the past 4 hours.

It is noteworthy that the HYPE token experienced a significant liquidation. A liquidation of $8.65 million occurred within 24 hours, indicating that a considerably large leveraged position had been established relative to its market capitalization.

A liquidation of 5.91 million dollars has also occurred with the PIPPIN token, which demonstrates the leverage risks in the so-called 'meme coin' market.

In the cryptocurrency market, 'liquidation' refers to the phenomenon where a trader holding a leveraged position is forced to close their position when they fail to meet the margin requirements. This liquidation data indicates that the market is experiencing significant volatility, particularly showing that a market sentiment skewed towards long positions has formed.

Market Interpretation

• Approximately $87.69 million in leveraged positions were liquidated over the past 24 hours, with long positions accounting for a dominating 84.1%.

• Large-scale liquidations occurred on major exchanges, with long position liquidations reaching 99.2% on Hyperliquid.

• In addition to BTC, ETH, and SOL, significant liquidations occurred in ZEC and HYPE tokens, larger than expected.

Strategic Points

• The concentration of long positions has intensified, posing additional liquidation risks in the event of a market decline.

• Special caution is needed when using leverage for tokens like ZEC and HYPE among altcoins.

• It is essential to manage risks thoroughly when using leverage on a new exchange.

Terminology Clarification

• 청산)liquidation(: The phenomenon where a position is forcibly closed when the collateral value falls below the maintenance margin in leveraged trading.

• 롱 포지션)long position(: A position taken when expecting the asset price to rise.

• 숏 포지션)short position(: A position where one sells with the expectation that the asset price will decrease.

• 레버리지)leverage(: A loan-type service that allows you to trade with an amount larger than your own capital.