Bitcoin News, Cryptocurrency News

Over $700 Mln In Crypto’s Longs & Shorts Liquidated As Bitcoin Reaches ATH.

Hundreds of thousands of traders had their futures positions liquidated as Bitcoin (BTC) fell below $64,000 USD to a seven-day low after reaching a fresh all-time high of $69,100 USD.

In Shorts & Longs, $707 Mln’s Liquidated

According to statistics supplied by independent firm Coinglass, over $706 million worth of short and long bets were liquidated in the last 24 hours across all trading pairings.

Long positions account for the vast bulk of liquidations in this market. On Bitfinex, bulls are responsible for 9 out of 10 positions liquidated, accounting for 77% of all liquidated traders.

In the previous 24 hours, more than 174,000 traders have lost their holdings. On BitMEX, the most severe single position liquidation occurred: a trader’s long position was deleted for $10,000,000. Almost 85% of all liquidations took place on Binance, OKEx, and FTX.

Bulls ADA, DOT, XRP, & SOL Accountable For $100 Mln In Losses

Aside from Bitcoin (BTC) bulls, altcoin traders were also subjected to ruthless slaughter. On major spot marketplaces, the second cryptocurrency fell to $4,467 USD, wiping off a total of $100 million in Ethereum (ETH) holdings.

Polkadot (DOT), XRP, Cardano (ADA), and Solana (SOL) coins took the brunt of the losses across all large caps.

As reported earlier, the Bitcoin (BTC) price hit a new all-time high of $69,000 earlier on 1oth Nov 2021, on news of the United States’ record-breaking inflation rate.

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