Key Notes
- Bitcoin price currently sits around $106,000, suggesting a massive recovery.
- Crypto market liquidations total $341.85 million, with Bitcoin traders worst hit. The broader cryptocurrency industry has seen as many as 117,978 traders liquidated in the latest period.
- The crypto market cap jumped nearly 4% to $3.56 trillion.
In the wake of ongoing Bitcoin
BTC
$106,326
24h volatility:
4.7%
Market capitalization:
$2.12T
Flight. 24h:
$70.85 billion
price recovery at $106,000, 24 hours. Liquidations of BTC, ETH
ETH
$3,623
24h volatility:
6.8%
Market capitalization:
$437.32 billion
Flight. 24h:
$31.29 billion
ZEC
ZEC
$655.4
24h volatility:
9.7%
Market capitalization:
$10.73 billion
Flight. 24h:
$2.14 billion
and other significant assets total $341.85 million, according to the heatmap provided by CoinGlass. Additionally, the largest liquidation order occurred on Hyperliquide, valued at $18.96 million.
Over the past 24 hours, 117,978 short and long traders were liquid in the crypto market, resulting in total losses of $341.85 million. Bitcoin currently leads liquidations, with $115.98 million recorded as lost.
Of this figure, short traders are the most affected, with their losses estimated at around $106.75 million. Long traders, who underestimated their bets, lost only $9.22 million.
Affected short traders expected the flagship cryptocurrency to continue the downward trend it started some time ago. It is worth noting that the Bitcoin price was barely hanging on to $100,000 and exchange-traded fund (ETF) outflows were forming a trend. Therefore, some were convinced that the play would prolong the dark performance.
Unfortunately for these short traders, Bitcoin saw a rally, just as Science author Shanaka Anslem Perera noted that the bull run was not over. At the time of writing, the BTC price was at $105,922.92, representing a 3.93% rise in the last 24 hours, according to CoinMarketCap data.
Ethereum liquidations were capped at $92.01 million during the same period and, as with Bitcoin, short traders were hit the hardest at $76.02 million. Long traders were less liquidated with a loss of $15.99 million.
Other digital assets like Dogecoin
DOGE
$0.18
24h volatility:
6.4%
Market capitalization:
$27.92 billion
Flight. 24h:
$1.98 billion
Litecoin
XRP
$2.53
24h volatility:
12.1%
Market capitalization:
$152.43 billion
Flight. 24h:
$4.62 billion
and the XRP token associated with Ripple
BTC
$106,326
24h volatility:
4.7%
Market capitalization:
$2.12T
Flight. 24h:
$70.85 billion
were also affected.
Broader crypto market cap at $3.56 trillion
Generally speaking, the crypto market has started to show signs of rebound. It gained about $170 billion in a single day as renewed confidence swept global trade. Currently, the broader market capitalization stands at $3.56 trillion, up 3.91% in 24 hours.
This is the result of some favorable events in and around the digital asset market. For example, the Senate ended a weeks-long impasse by passing a funding bill 60-40 to end the U.S. government shutdown.
Additionally, the Depository Trust & Clearing Corporation (DTCC) recently added several proposed spot XRP ETFs to its “active and pre-launch” list.
These events are rather positive for the digital asset sector.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and innovations aimed at driving mainstream acceptance and global integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
