🔔News Update ‼️🔔
The Market is currently experiencing a surge in short liquidations
with major assets like Bitcoin gaining momentum. Over the past 24 hours, total liquidations have exceeded $192 million, with more than $145 million coming from short positions. Bitcoin accounted for $63 million in liquidations, including $55 million from shorts, as it recently surpassed $66,000, trading at $65,300. Ethereum follows with $37 million in liquidations, primarily from shorts, as it crossed the $2,600 mark.
Binance, the largest exchange, reported the highest single liquidation order of $5.2 million in the ETH/USDT pair. The exchange contributed $94 million to the total liquidations, predominantly from short positions. Despite these liquidations, overall open interest in the crypto market rose by 4.7% to $69.5 billion, indicating signs of FOMO and greed among traders. The global crypto market capitalization increased by over $109 billion, now at $2.406 trillion, with Bitcoin holding a 54.2% market dominance. A significant factor in Bitcoin's price growth is the recent influx of $555.9 million into U.S.-based spot BTC exchange-traded funds, marking a four-month high.
