{"id":590721,"date":"2024-03-01T00:00:36","date_gmt":"2024-03-01T00:00:36","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=590721"},"modified":"2024-06-11T08:39:58","modified_gmt":"2024-06-11T08:39:58","slug":"bitcoin-volatility-713-carnage-crypto-futures","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/bitcoin-volatility-713-carnage-crypto-futures\/","title":{"rendered":"Bitcoin Volatility Induces $700 Million Carnage In Crypto Futures"},"content":{"rendered":"

Data shows the cryptocurrency futures market has seen liquidations amounting to $700 million in the past day as Bitcoin has gone through its volatility.<\/p>\n

Bitcoin Has Seen Intense Price Action In Past 24 Hours<\/h2>\n

The past day has been a bit of a rollercoaster for Bitcoin, with the asset registering sharp price action in both directions but ultimately going up as the bulls win out.<\/p>\n

Related Reading: Bitcoin MVRV Hits Levels That Led To Parabolic Bull Run In 2020<\/a><\/div>\n

The chart below shows what the price action for the cryptocurrency has looked like recently.<\/p>\n

\"Bitcoin<\/p>\n

The price of the asset seems to have enjoyed sharp bullish momentum recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
From the graph, it’s visible that Bitcoin initially witnessed some sharp bullish momentum, in which the coin not only broke above the $60,000 level, but went up to touch the $64,000 mark<\/a>.<\/p>\n
This high, which is the peak for the year so far, only lasted briefly, however, as BTC crashed down spectacularly to under the $59,000 mark. The asset has since recovered to higher levels, now floating around $62,700.<\/p>\n
The rest of the cryptocurrency sector has also gone through its volatility, with prices fluctuating across the coins. As is usually the case with such sharp price action, the futures market has suffered many liquidations<\/a>.<\/p>\n
Crypto Futures Market Has Gone Through A Squeeze In The Past Day<\/h2>\n
According to data from CoinGlass<\/a>, the cryptocurrency futures market has witnessed the liquidation of contracts worth more than $700 million in the last 24 hours.<\/p>\n
The table below displays the relevant information about the liquidations.<\/p>\n
\"Bitcoin<\/p>\n
A massive amount of liquidations appear to have occurred in the past day | Source: CoinGlass<\/a><\/pre>\n
It would appear that only $131 million of the liquidations came within twelve hours, suggesting that most of the flush was situated inside the preceding half-day period. This makes sense, as Bitcoin was most volatile inside this window.<\/p>\n
It also seems that the long-to-short ratio in this liquidation event has been quite balanced, even though the price has increased in the past day. This would suggest that some aggressive longing occurred as Bitcoin approached $64,000, and the subsequent pullback wiped these top buyers.<\/p>\n
The table below shows how the distribution has looked for the various symbols.<\/p>\n
\"Bitcoin<\/p>\n
Looks like BTC has topped the charts once more | Source: CoinGlass<\/a><\/pre>\n
As is generally the case, Bitcoin futures contracts have again been responsible for the largest portion of the total market liquidations, contributing around $270 million.<\/p>\n
Related Reading: TRON Hits 95 Million Addresses Milestone, Will This Help Price?<\/a><\/div>\n
What’s different this time, however, is that this share, although the largest, isn’t even half the total liquidations. This could come down to the fact that speculators may now be playing around with altcoin positions after gaining confidence from the BTC price surge.<\/p>\n
Dogecoin, the best performer among the top coins with its 34% jump<\/a>, has occupied the largest share among the alts, with almost $51 million in liquidations.<\/p>\n
Featured image from Andr\u00e9 Fran\u00e7ois McKenzie on Unsplash.com, CoinGlass.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Data shows the cryptocurrency futures market has seen liquidations amounting to $700 million in the past day as Bitcoin has gone through its volatility. Bitcoin Has Seen Intense Price Action In Past 24 Hours The past day has been a bit of a rollercoaster for Bitcoin, with the asset registering sharp price action in both directions but ultimately going up as the bulls win out. Related Reading: Bitcoin MVRV Hits Levels That Led To Parabolic Bull Run In 2020 The chart below shows what the price action for the cryptocurrency has looked like recently. The price of the asset seems to have enjoyed sharp bullish momentum recently | Source: BTCUSD on TradingView From the graph, it’s visible that Bitcoin initially witnessed some sharp bullish momentum, in which the coin not only broke above the $60,000 level, but went up to touch the $64,000 mark. This high, which is the peak for the year so far, only lasted briefly, however, as BTC crashed down spectacularly to under the $59,000 mark. The asset has since recovered to higher levels, now floating around $62,700. The rest of the cryptocurrency sector has also gone through its volatility, with prices fluctuating across the coins. As is usually the case with such sharp price action, the futures market has suffered many liquidations. Crypto Futures Market Has Gone Through A Squeeze In The Past Day According to data from CoinGlass, the cryptocurrency futures market has witnessed the liquidation of contracts worth more than $700 million in the last 24 hours. The table below displays the relevant information about the liquidations. A massive amount of liquidations appear to have occurred in the past day | Source: CoinGlass It would appear that only $131 million of the liquidations came within twelve hours, suggesting that most of the flush was situated inside the preceding half-day period. This makes sense, as Bitcoin was most volatile inside this window. It also seems that the long-to-short ratio in this liquidation event has been quite balanced, even though the price has increased in the past day. This would suggest that some aggressive longing occurred as Bitcoin approached $64,000, and the subsequent pullback wiped these top buyers. The table below shows how the distribution has looked for the various symbols. Looks like BTC has topped the charts once more | Source: CoinGlass As is generally the case, Bitcoin futures contracts have again been responsible for the largest portion of the total market liquidations, contributing around $270 million. Related Reading: TRON Hits 95 Million Addresses Milestone, Will This Help Price? What’s different this time, however, is that this share, although the largest, isn’t even half the total liquidations. This could come down to the fact that speculators may now be playing around with altcoin positions after gaining confidence from the BTC price surge. Dogecoin, the best performer among the top coins with its 34% jump, has occupied the largest share among the alts, with almost $51 million in liquidations. Featured image from Andr\u00e9 Fran\u00e7ois McKenzie on Unsplash.com, CoinGlass.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":590759,"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":[428,569,84332,6481,790,1119,1144,91767,89654],"class_list":["post-590721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-futures","tag-bitcoin-liquidations","tag-bitcoin-rally","tag-bitcoin-volatility","tag-btc","tag-btcusd","tag-crypto-carnage","tag-crypto-futures"],"acf":[],"yoast_head":"\nBitcoin Volatility Induces $700 Million Carnage In Crypto Futures<\/title>\n<meta name=\"description\" content=\"Data shows the crypto futures market has seen liquidations worth $713 million in the past day as Bitcoin has gone 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Verma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","caption":"Keshav Verma"},"description":"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/www.uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Volatility Induces $700 Million Carnage In Crypto Futures","url":"http:\/\/www.uniquehot.com\/news\/bitcoin-volatility-713-carnage-crypto-futures\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.uniquehot.com\/news\/bitcoin-volatility-713-carnage-crypto-futures\/"},"thumbnailUrl":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/02\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/02\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash.jpg?fit=4240%2C2832"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin futures","bitcoin liquidations","bitcoin rally","bitcoin volatility","btc","btcusd","crypto carnage","crypto futures"],"dateCreated":"2024-03-01T00:00:36Z","datePublished":"2024-03-01T00:00:36Z","dateModified":"2024-06-11T08:39:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Volatility Induces $700 Million Carnage In Crypto Futures\",\"url\":\"http:\\\/\\\/www.uniquehot.com\\\/news\\\/bitcoin-volatility-713-carnage-crypto-futures\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.uniquehot.com\\\/news\\\/bitcoin-volatility-713-carnage-crypto-futures\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash.jpg?fit=4240%2C2832\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin futures\",\"bitcoin liquidations\",\"bitcoin rally\",\"bitcoin volatility\",\"btc\",\"btcusd\",\"crypto carnage\",\"crypto futures\"],\"dateCreated\":\"2024-03-01T00:00:36Z\",\"datePublished\":\"2024-03-01T00:00:36Z\",\"dateModified\":\"2024-06-11T08:39:58Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/02\/andre-francois-mckenzie-JrjhtBJ-pGU-unsplash.jpg?fit=4240%2C2832","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/590721"}],"collection":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/comments?post=590721"}],"version-history":[{"count":0,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/590721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/media\/590759"}],"wp:attachment":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/media?parent=590721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/categories?post=590721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/tags?post=590721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}