The data shows that the cryptocurrency sector has witnessed a huge amount of qualifiers after its crash that Bitcoin went through and the company.
The Mashtaqat Al -Tafir Market has seen long pressure
According to data from CoinglassThere was a large amount of references related to cryptocurrencies on the derivative platforms during the past day. The “liquidation” here refers to the strong closure that any open contract is subject to by exchanging it after collecting losses to a certain degree (the accurate percentage depends on the platform).
There are mainly two factors that can significantly affect the chances of liquidating the contract. The first is fluctuation. It is natural that the origin that tends to be developed is more difficult, and therefore the risk of filtering can be higher.
While fluctuations are not in the hands of an individual merchant, the second factor, the leverage, is. The “leverage” is a loan amount that any investor can choose for his initial position.
The financial leverage feature is that any profits obtained by a holder are hit with the same double as the leverage. Although this can seem profitable, it is also true that any losses they incurred become more than the same size. Thus, it takes a smaller step in the opposite direction to the bet in order to filter the same position when the leverage is in the picture.
In the encrypted currency sector, metal currencies often offer fluctuations and the demand for speculation can be heavy. The result is that the comprehensive liquidation events, known as the Djmash, occur regularly.
Bitcoin and Altcoins showed some sharp price measures during the past day, so it is not surprising that we see that such an event occurred in the derivative market again.
The data for the liquidations that have taken place during the last 24 hours | Source: CoinGlass
As visible in the table above, the references across the coded currency derivative sector crossed a brand of $ 2.32 billion in the past 24 hours. Even according to market standards, this is a huge personality.
About $ 1.93 billion of filters, equivalent to more than 83 % of the total, included long holders. Bitcoin and others have crashed into this window, so it makes sense for those who are betting on a significantly upward result.
However, the short pants have not been fully avoided, as about $ 387 million associated with the bounce in BTC has been closed from its lowest levels.
Interestingly, although Bitcoin generally tops the liquidation list, ETHEREM (ETH) came first this time, with about $ 613 million in contracts related to it at the event.
The breakdown of the latest liquidations by symbol | Source: CoinGlass
ETH is likely to see approximately $ 200 million from the first rank of the first encrypted currency to the fact that it has seen a 16 % greater decrease over the past day.
Bitcoin price
Bitcoin has seen some recovery since its decline towards a mark of $ 92,000, as its price now floats around 95300 dollars.
Looks like the price of the coin has gone through a rollercoaster in the past day | Source: BTCUSDT on TradingView
Distinctive image from Dall-I, Coinglass.com, Chart from Tradingview.com
