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Crypto Market Sees $444 Million in Positions Liquidated in 24 Hours

Crypto Market Sees $444 Million in Positions Liquidated in 24 Hours

The crypto market experienced significant liquidations, with long positions seeing higher losses than short positions, as Bitcoin and Ethereum account for most of the liquidations.

BTC
ETH

Fact Check
The statement is strongly supported by Source 9 (Unchained Crypto), which reported on October 2, 2024, that '$448 million liquidated from long positions' within a 24-hour period, as part of a $525 million total liquidation event. The figure in the statement ($444 million) is very close to this reported number, with the minor discrepancy likely attributable to different data reporting windows or rounding.
    Reference: 123
Summary

The crypto market saw $109 million in liquidations within 24 hours, with $67.78 million from long positions and $41.31 million from short positions. Bitcoin faced $11.63 million in liquidations, while Ethereum had $39.02 million, reflecting ongoing market volatility.

Terms & Concepts
  • Liquidation: The forced closure of a leveraged position when margin is insufficient to cover losses.
  • Long Position: A position that benefits from price increases in the underlying asset.
  • Short Position: A position that benefits from price declines in the underlying asset.