$100 Million in Liquidations as Bitcoin Price Explodes to $29K

Following the most recent decline, Bitcoin bulls have finally resurfaced, pushing the price all the way up to the $29K mark.

This has brought positivity to the entire market, but has also caused a stir in terms of liquidated leveraged positions.

  • The past 24 hours saw around $100 million worth of leveraged positions being liquidated, according to data from Coinglass.
  • Naturally, the overwhelming majority of this (82%) came from short positions.
  • This happened as the BTC price exploded towards $29K, followed by the majority of the market.
Source: Trading View

  • Most of the liquidations came from BTC positions ($41M), followed by ETH ($21.5M).

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