Bitcoin #liquidations total $310 million in the past two days

There have been an astounding number of liquidations as a result of the price spike in Bitcoin. $160 million of the $190 million in liquidations on October 23 came from #Bitcoin -specific liquidations. With short liquidations totaling $70 million and long liquidations totaling $50 million, this trend continued through October 24. All told, these two days' liquidations brought in a staggering $310 million.

This qualifies as one of the year's most noteworthy liquidations. By contrast, other noteworthy events include the time in January when the price of Bitcoin surged from $16,000 to $20,000 and the time after the #SVB crash in March, when the price of Bitcoin recovered from $20,000 to $27,000, triggering a significant number of liquidations.

It's important to remember that the largest long liquidation event happened in August, in light of these recent short liquidations. At this time, we saw lengthy liquidations that totaled over $210 million, and the price dropped from $30,000 to $25,000.