Bitcoin Surges to $67,000, Triggering $300 Million in Liquidations

Recently, the cryptocurrency market has undergone a significant liquidation wave, reaching nearly $300 million USD, while Bitcoin has started a strong recovery with a price level at $67,000 USD.

The sudden increase in Bitcoin’s value, completely opposite to its previous downward trend, has caught many traders by surprise, especially those who had bet on the market to continue declining.

Over 80,000 traders have had to face liquidation. Data from Coinglass shows that approximately 86,047 traders incurred losses exceeding $250 million USD within just 24 hours.

Major exchanges such as Binance, OKX, Bybit, and Huobi have suffered the most significant financial losses, notably Binance with liquidation amounts reaching $128.7 million USD. Other platforms like OKX, Bybit, and Huobi also recorded significant liquidation amounts of $99.87 million USD, $33.18 million USD, and $17.70 million USD, respectively