en.bitcoinsistemi.com
The downward trend in Bitcoin ($BTC) and altcoins continues. With the market in a bear market and prices expected to fall further, the latest data has arrived from the cryptocurrency tracking platform Coinglass.
According to recent data from Coinglass, Bitcoin’s price movements are poised to trigger significant liquidation events on mainstream cryptocurrency exchanges (CEXs).
“At this point, if Bitcoin rises above $69,000, $1.41 billion worth of $BTC short positions on CEXs will be liquidated.”
Conversely, if the Bitcoin price falls below $64,000, $898 million worth of long positions will be liquidated.
According to Coinglass’s Ethereum ($ETH) data, the $1,800 and $2,100 levels are of critical importance.
“At this point, if Ethereum rises above $2,100, $1 billion worth of $ETH short positions on CEXs will be liquidated.”
Conversely, if the Ethereum price falls below $1,800, $769 million worth of long positions will be liquidated.
According to current data, leveraged trading worth $253 million was liquidated in the last 24 hours, while $179 million in long positions and $73 million in short positions were also liquidated.
In the last 24 hours, 99,346 traders were liquidated, with the largest liquidation occurring in $BTC/USD trading on Bybit.
*This is not investment advice.