As a researcher with extensive experience in the cryptocurrency market, I find the recent data on liquidations and open interest intriguing. The 80.26% decline in crypto liquidations over the past 24 hours indicates that the broader market is experiencing low volatility and neutral sentiment.
As a cryptocurrency market analyst, I’ve observed a significant decline of approximately 80.26% in liquidation events during this market phase. The overall crypto market is currently consolidating, which means prices are trading within a narrow range, and the low volatility is contributing to a neutral sentiment among traders.
Based on information from Coinglass, the aggregate crypto liquidations amount to $42.4 million during the last 24 hours. Such a figure indicates minimal volatility in the larger cryptocurrency market.
Here’s what to know:
-
Long positions are worth roughly $23.8 million
Short trading positions, $18.5 million in liquidations.
Ethereum (ETH) leads with $9 million in liquidations — $3.5 million longs, $5.5 million shorts.
Notcoin’s (NOT) liquidations came in third after a group of small-cap crypto assets, reaching $3.9 million
Bitcoin (BTC), secured the fourth spot reaching $3.25 million — with $2.44 million worth of long positions liquidated in 24 hours.
Data shows that almost half of the liquidations, $20 million, come from Binance, the largest crypto exchange by trading volume.
Seychelles-based exchange OKX has the second spot with $13 million in liquidations
OKX accounts for over 30.7% of the global liquidations.
Total cryptocurrency open interest increased by 0.2%, reaching $66.3 billion.
According to CoinGecko, the total value of all cryptocurrencies in circulation worldwide is approximately $2.54 trillion at present.
Over the last 24 hours, Bitcoin (BTC) and Ethereum (ETH) have remained stable around the prices of $66,000 and $3,500, respectively. The two major cryptocurrencies have exhibited minimal fluctuations as the larger crypto market experiences a muted mood.
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2024-06-16 15:17