FLR - Bitcoin Ethereum Dogecoin Plunge Amid $200M Crypto Long Liquidations: Analyst Says King Crypto To Reach All-Time Highs After Halving Event | Benzinga
Major cryptocurrencies on Thursday evening dropped as traders betting on long positions faced substantial liquidation.
What Happened: According to the data from Coinglass, the past 24 hours have seen over $200 million worth of cryptocurrency long positions liquidated.
Specifically, for BTC, longs worth over $65 million were liquidated, while for ETH, over $27 million in longs faced the same fate.
The total number of traders liquidated in this period stands at 90,781, with the total liquidation amount reaching $227.91 million for both long and short positions. Notably, the largest liquidation order occurred on Binance for BTC-USDT, amounting to $7.31 million.
Since the introduction of the approved spot Bitcoin ETFs on Jan. 11, the price of Bitcoin has experienced a modest increase followed by a subsequent decrease of approximately 13%.
Data updated as of Wednesday reveals that the new spot ETF issuers collectively acquired over 68,000 bitcoins within their first week of trading. On the other hand, Grayscale’s GBTC has offloaded approximately 40,000 Bitcoins, resulting in a net increment of about 28,000 Bitcoins to the Bitcoin ETFs.
Top Gainer (24 Hour)
The global cryptocurrency market cap now stands at $1.68 trillion, showing a 0.92% decrease in the past 24 hours.
On Thursday, tech companies, spearheaded by Apple, drove the market upwards, propelling the major averages into positive territory.The tech-heavy Nasdaq ...