{"id":539048,"date":"2023-06-22T11:30:15","date_gmt":"2023-06-22T11:30:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=539048"},"modified":"2024-06-11T08:14:13","modified_gmt":"2024-06-11T08:14:13","slug":"crypto-market-sees-liquidations-amid-bitcoins-leap","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-market-sees-liquidations-amid-bitcoins-leap\/","title":{"rendered":"Crypto Market Sees Liquidations Over $260 Million Amid Bitcoin&#8217;s Leap Above $30,000"},"content":{"rendered":"<p>A few hours<span class=\"selectable-text copyable-text\"> after Bitcoin scaled the $30,000 mark, the global crypto market has been rocked by substantial liquidations. The past 24 hours alone have seen a drastic exodus of more than $260 million from the crypto market. This significant upheaval underlines the high-stakes, volatile nature of digital currency trading.<\/span><\/p>\n<p>Notably, traders currently at a loss despite the uptrend in the market are those that took short positions with the hope of the crypto market continuing a downward trend.<\/p>\n<h2><span class=\"selectable-text copyable-text\">Sweeping Liquidation Wave Hits Crypto Traders<\/span><\/h2>\n<p class=\"selectable-text copyable-text iq0m558w\" dir=\"ltr\"><span class=\"selectable-text copyable-text\"><a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow\">Data<\/a> from Coinglass reveals that an estimated 65,392 traders and counting had their positions liquidated in the past 24 hours, amounting to cumulative losses above $269 million. This event underscores the risk in crypto trading, particularly during significant market shifts, such as <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/data-reveals-short-term-bitcoin-holders-refuse-to-sell\/\" target=\"_blank\" rel=\"noopener \">Bitcoin&#8217;s<\/a> recent surge beyond the $30,000 threshold.<\/span><\/p>\n<p dir=\"ltr\"><span class=\"selectable-text copyable-text\">Binance, a prominent player in the crypto exchange arena, accounted for the most significant slice of these liquidations, totaling $84.79 million. Other exchanges, including OKX with $69.53 million, Bybit with $37.9 million, and Huobi with $32.35 million, also recorded large liquidations. <\/span><\/p>\n<p dir=\"ltr\"><span class=\"selectable-text copyable-text\">While smaller exchanges also saw liquidations, their impact on the overall market was less severe. Notably, The liquidation wave <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/blackrock-inches-closer-to-launching-bitcoin-etf-impact-on-btc-price\/\" target=\"_blank\" rel=\"noopener \">impacted traders<\/a> mainly holding short positions, reflecting the majority&#8217;s anticipation of a price decrease. <\/span><\/p>\n<p dir=\"ltr\"><span class=\"selectable-text copyable-text\">These traders bore the brunt of the liquidations, accounting for approximately 80.9% ($218.21 million). Simultaneously, traders holding long positions were not immune to the market&#8217;s volatility, with liquidations amounting to nearly 20% of the total ($51.50 million). <\/span><\/p>\n<p dir=\"ltr\"><span class=\"selectable-text copyable-text\">This underscores that fluctuations in the crypto market can be equally detrimental to both ends of the trading spectrum. A stark illustration of this explosive situation came from Bitmex, where a single trader recorded a massive loss of $9.30 million in an XBTUSD swap, the largest single liquidation in this episode.<\/span><\/p>\n<h2 dir=\"ltr\">Bitcoin Latest Price Action<\/h2>\n<p>Over the past 24 hours, <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/nansen-forecasts-conditions-for-the-next-bitcoin-bull-run\/\" target=\"_blank\" rel=\"noopener \">Bitcoin has made significant moves<\/a>. The asset has briefly tapped a notable high of above $30,000 a few minutes ago from writing. This surge comes after the asset&#8217;s previous blood bath amid the intensified regulatory scrutiny on the largest crypto exchanges that saw its price <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-price-on-shaky-ground-market-analysts-warn-potential-fall\/\" target=\"_blank\" rel=\"noopener \">trade below $25,000<\/a>.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/54Poa4HD\/\" alt=\"Bitcoin (BTC)\u2019s price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">Bitcoin (BTC)\u2019s price moving sideways on the 4-hour chart. Source: BTC\/USD on<a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSD\" target=\"_blank\" rel=\"noopener nofollow\"> TradingView.com<\/a><\/figcaption><\/figure>\n<p>Bitcoin currently trades at $29,991 after briefly climbing above $30,000. O<span class=\"selectable-text copyable-text\">ver the past 7 days, Bitcoin\u2019s total market capitalization saw a boost of 15.7%, amounting to an additional $80 billion. The market capitalization of Bitcoin presently hovers at $583.6 billion, an increase from last Wednesday\u2019s $503 billion.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/nansen-forecasts-conditions-for-the-next-bitcoin-bull-run\/\" target=\"_blank\" rel=\"noopener \">Nansen Forecast For Bitcoin Bull Run: Regulatory Clarity And Lower Inflation<\/a><\/div>\n<p><span class=\"selectable-text copyable-text\">Bitcoin\u2019s daily trading volume has also surged from a low of around $7 billion last week to as high as above $30 billion in the past 24 hours. This update suggests an<a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-market-dominance-peaks-in-nearly-two-years\/\" target=\"_blank\" rel=\"noopener \"> increased trading activity<\/a> of Bitcoin within a span of 7 days.\u00a0<\/span><\/p>\n<figure id=\"attachment_539054\" aria-describedby=\"caption-attachment-539054\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-539054\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/Screenshot-2023-06-21-at-18.59.30.png?resize=460%2C247\" alt=\"Crypto market liquidations heatmap.\" width=\"460\" height=\"247\"><figcaption id=\"caption-attachment-539054\" class=\"wp-caption-text\">Crypto market liquidations heatmap. | Source:<a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow\"> Coinglass.com<\/a><\/figcaption><\/figure>\n<p><span class=\"selectable-text copyable-text\">Furthermore, Bitcoin liquidations formed a significant chunk of this turbulence, accounting for $115.76 million. Following Bitcoin, Ethereum (ETH) traders witnessed liquidations of $51.94 million, reaffirming the ripple effect across different cryptocurrencies.<\/span><\/p>\n<p>Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A few hours after Bitcoin scaled the $30,000 mark, the global crypto market has been rocked by substantial liquidations. The past 24 hours alone have seen a drastic exodus of more than $260 million from the crypto market. This significant upheaval underlines the high-stakes, volatile nature of digital currency trading. Notably, traders currently at a loss despite the uptrend in the market are those that took short positions with the hope of the crypto market continuing a downward trend. Sweeping Liquidation Wave Hits Crypto Traders Data from Coinglass reveals that an estimated 65,392 traders and counting had their positions liquidated in the past 24 hours, amounting to cumulative losses above $269 million. This event underscores the risk in crypto trading, particularly during significant market shifts, such as Bitcoin&#8217;s recent surge beyond the $30,000 threshold. Binance, a prominent player in the crypto exchange arena, accounted for the most significant slice of these liquidations, totaling $84.79 million. Other exchanges, including OKX with $69.53 million, Bybit with $37.9 million, and Huobi with $32.35 million, also recorded large liquidations. While smaller exchanges also saw liquidations, their impact on the overall market was less severe. Notably, The liquidation wave impacted traders mainly holding short positions, reflecting the majority&#8217;s anticipation of a price decrease. These traders bore the brunt of the liquidations, accounting for approximately 80.9% ($218.21 million). Simultaneously, traders holding long positions were not immune to the market&#8217;s volatility, with liquidations amounting to nearly 20% of the total ($51.50 million). This underscores that fluctuations in the crypto market can be equally detrimental to both ends of the trading spectrum. A stark illustration of this explosive situation came from Bitmex, where a single trader recorded a massive loss of $9.30 million in an XBTUSD swap, the largest single liquidation in this episode. Bitcoin Latest Price Action Over the past 24 hours, Bitcoin has made significant moves. The asset has briefly tapped a notable high of above $30,000 a few minutes ago from writing. This surge comes after the asset&#8217;s previous blood bath amid the intensified regulatory scrutiny on the largest crypto exchanges that saw its price trade below $25,000. Bitcoin currently trades at $29,991 after briefly climbing above $30,000. Over the past 7 days, Bitcoin\u2019s total market capitalization saw a boost of 15.7%, amounting to an additional $80 billion. The market capitalization of Bitcoin presently hovers at $583.6 billion, an increase from last Wednesday\u2019s $503 billion. Related Reading: Nansen Forecast For Bitcoin Bull Run: Regulatory Clarity And Lower Inflation Bitcoin\u2019s daily trading volume has also surged from a low of around $7 billion last week to as high as above $30 billion in the past 24 hours. This update suggests an increased trading activity of Bitcoin within a span of 7 days.\u00a0 Furthermore, Bitcoin liquidations formed a significant chunk of this turbulence, accounting for $115.76 million. Following Bitcoin, Ethereum (ETH) traders witnessed liquidations of $51.94 million, reaffirming the ripple effect across different cryptocurrencies. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":523579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,10923,8323,1946],"class_list":["post-539048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-crypto-market","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Crypto Market Sees Liquidations Over $260 Million Amid Bitcoin Leap Above $30,000<\/title>\n<meta name=\"description\" content=\"A few hours\u00a0after Bitcoin scaled the $30,000 mark, the global crypto market has been rocked by substantial liquidations. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Crypto Market Sees Liquidations Over $260 Million Amid Bitcoin Leap Above $30,000","description":"A few hours\u00a0after Bitcoin scaled the $30,000 mark, the global crypto market has been rocked by substantial liquidations. The past 24 hours...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/crypto-market-sees-liquidations-amid-bitcoins-leap\/","og_locale":"en_US","og_type":"article","og_title":"Crypto Market Sees Liquidations Over $260 Million Amid Bitcoin Leap Above $30,000","og_description":"A few hours\u00a0after Bitcoin scaled the $30,000 mark, the global crypto market has been rocked by substantial liquidations. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Market Sees Liquidations Over $260 Million Amid Bitcoin&#8217;s Leap Above $30,000","url":"http:\/\/uniquehot.com\/news\/crypto-market-sees-liquidations-amid-bitcoins-leap\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/crypto-market-sees-liquidations-amid-bitcoins-leap\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","crypto market","eth","ethereum"],"dateCreated":"2023-06-22T11:30:15Z","datePublished":"2023-06-22T11:30:15Z","dateModified":"2024-06-11T08:14:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Market Sees Liquidations Over $260 Million Amid Bitcoin&#8217;s Leap Above $30,000\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/crypto-market-sees-liquidations-amid-bitcoins-leap\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/crypto-market-sees-liquidations-amid-bitcoins-leap\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?fit=509%2C339\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"crypto market\",\"eth\",\"ethereum\"],\"dateCreated\":\"2023-06-22T11:30:15Z\",\"datePublished\":\"2023-06-22T11:30:15Z\",\"dateModified\":\"2024-06-11T08:14:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/539048"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=539048"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/539048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/523579"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=539048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=539048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=539048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}