Over the past 24 hours, with Bitcoin prices holding between $89,700 and $92,500, a total of $317 million has been liquidated, with long positions losing $210 million and shorts losing $106 million. Since November 6, crypto liquidations have exceeded $300 million daily as Bitcoin’s price continues to rise.
The highest levels were recorded on November 12, with over $800 million liquidated when Bitcoin reached $87,900. Long positions accounted for approximately 66% of the total liquidations. Binance led the exchanges with $139.72 million in liquidations over the past 24 hours, followed by OKX and Bybit.
Despite low volatility, traders are engaging in leveraged positions, which are getting liquidated. The liquidation levels suggest that traders are using high leverage or low collateral, resulting in losses for both longs and shorts. These liquidation levels coincide with Bitcoin’s bull run following the U.S.
election results. Traders appear to be making leveraged bets on market movements, resulting in liquidations even with minor price fluctuations.
Source
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