Bitcoin Volatility Triggers $418 Million in Liquidations as Prices Dip Below $92K

Bitcoin sharp price fluctuations led to $418 million in liquidations, with long positions dominating. The crypto market remains volatile as over 132,800 traders are impacted by the sell-off.

Bitcoin Price Swings Lead to Massive Liquidations

Bitcoin recent price movements have sent shockwaves through the cryptocurrency market, resulting in $418 million in liquidations within the past 24 hours. Trading between $95,000 and $92,000, Bitcoin experienced a 2% rise, quickly followed by a 3% drop as Asian markets opened.

This marked an increase from earlier data, which recorded $311.53 million in liquidations. The latest downturn pushed Bitcoin’s price below the critical $92,000 mark, intensifying liquidation activity.

Liquidation Breakdown

According to data from Coinglass, long positions accounted for the majority of the liquidations, totaling $349 million, or 83.49%. Short positions contributed $69 million to the total.

• Binance led the exchanges with $127.18 million liquidated, 81.21% of which came from long positions.
• OKX and Bybit followed with $79.50 million and $52.87 million liquidated, respectively.

Bitcoin remained the most liquidated asset, with $44.91 million from long positions and $20.43 million from shorts. Ethereum saw $34.31 million liquidated from longs and $18.11 million from shorts. Other notable assets, including Solana, XRP, and Dogecoin, also experienced significant liquidation volumes.

The largest single liquidation event occurred on Binance’s BTCUSDT pair, valued at $8.21 million.

Impact on Traders

Over 132,800 traders were affected by the liquidation frenzy, highlighting the elevated risks in the current market environment. Despite a slight decline in open interest (OI), which dropped to $60 billion from a December 18 peak of $71 billion, liquidation levels remain high.

Market Sentiment and Broader Implications

The broader crypto market is showing signs of instability, as reflected in the widespread liquidations across various assets. Analysts point to external factors, such as macroeconomic pressures and high leverage in the system, as potential drivers of the current volatility.

As Bitcoin struggles to regain stability above $92,000, traders are bracing for further fluctuations. The market’s sentiment remains cautious, with many monitoring key levels and open interest trends to gauge the cryptocurrency’s near-term trajectory.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)