Bitcoin surge triggers altcoins rally, leads to $124 million in liquidations By Investing.com
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In a volatile turn of events, ‘s sudden surge to a peak of $35,430 sparked a rally among altcoins, notably , which rose by 4% within an hour. This abrupt volatility led to significant futures market liquidations totaling around $15 million within the same hour today.
The majority of these liquidations were borne by short-position investors who absorbed losses amounting to $13.65 million. The breakdown of the liquidations includes Bitcoin ($5.82 million), ($2.34 million), Solana ($1.63 million), and ($920,000).
Adding to the market turbulence, ORDI, a newly listed cryptocurrency on Binance, experienced an unexpected liquidation of $590,000.
Over the past 24 hours, total assets liquidated reached a staggering sum of $124 million. Long positions constituted $79 million while short positions accounted for $45 million. The cryptocurrencies most impacted by these liquidations were Bitcoin, Ethereum, XRP, and Solana. This swift market movement underscores the inherent risk and volatility associated with cryptocurrency investments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
In a volatile turn of events, ‘s sudden surge to a peak of $35,430 sparked a rally among altcoins, notably , which rose by 4% within an hour. This abrupt volatility led to significant futures market liquidations totaling around $15 million within the same hour today.
The majority of these liquidations were borne by short-position investors who absorbed losses amounting to $13.65 million. The breakdown of the liquidations includes Bitcoin ($5.82 million), ($2.34 million), Solana ($1.63 million), and ($920,000).
Adding to the market turbulence, ORDI, a newly listed cryptocurrency on Binance, experienced an unexpected liquidation of $590,000.
Over the past 24 hours, total assets liquidated reached a staggering sum of $124 million. Long positions constituted $79 million while short positions accounted for $45 million. The cryptocurrencies most impacted by these liquidations were Bitcoin, Ethereum, XRP, and Solana. This swift market movement underscores the inherent risk and volatility associated with cryptocurrency investments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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