简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:In the wake of the escalating conflict in the Middle East, the cryptocurrency market experienced a turbulent downturn on Monday, resulting in losses of more than $100 million from liquidated positions. Data from CoinGlass reveals that approximately $105 million worth of long positions, representing traders who had bet on price increases, were obliterated during the day. This marked the most significant volume of long liquidations since September 11.
In the wake of the escalating conflict in the Middle East, the cryptocurrency market experienced a turbulent downturn on Monday, resulting in losses of more than $100 million from liquidated positions. Data from CoinGlass reveals that approximately $105 million worth of long positions, representing traders who had bet on price increases, were obliterated during the day. This marked the most significant volume of long liquidations since September 11.
These liquidations transpired as digital asset prices plummeted, reflecting heightened investor anxiety triggered by the Israel-Hamas conflict and the overall instability in the region. Bitcoin (BTC), the leading digital currency, witnessed an initial drop of over 2%, only to recover to $27,600 later. Meanwhile, Ether (ETH) saw a nearly 5% decline at one point, and other prominent cryptocurrencies such as Solana (SOL), Polygon's native token (MATIC), and Polkadot (DOT) experienced declines ranging from 6% to 7%. While they did recover to some extent, the market remained highly volatile.
Liquidations occur when exchanges forcibly close leveraged trading positions due to the trader's inability to meet margin requirements or insufficient funds to maintain the position. Among the cryptocurrency derivatives, Ethereum (ETH) traders bore the brunt of the losses, with around $32.78 million worth of long positions liquidated in the past 24 hours, according to CoinGlass. Notably, the largest single liquidation order was a $4.5 million ETH-BUSD long position on the Binance crypto exchange.
Bitcoin (BTC) long positions worth $18.25 million were also liquidated, followed by Bitcoin Cash (BCH) and Bancor's (BNT) token, both witnessing over $3 million in liquidations each.
The volatile crypto market, influenced by global events and investor sentiment, continues to be subject to rapid fluctuations, emphasizing the importance of risk management for cryptocurrency traders.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Coinbase has come under fire after announcing its decision to delist Wrapped Bitcoin (wBTC), a move critics claim could be driven by competitive interests. The delisting, set to take effect on 19 December, has sparked allegations of market manipulation and concerns about fairness in the cryptocurrency ecosystem.
Solana hits $264 on Coinbase, breaking its 3-year high with an 11% daily surge. Learn what’s driving SOL's meteoric rise and the crypto market rally.
Bitcoin’s meteoric rise continues to capture global attention as its price recently surpassed the $99,000 mark, briefly approaching the $100,000 milestone. This unprecedented rally has led market sentiment to reach a state of “extreme greed,” according to the Fear and Greed Index. Analysts suggest that the market may be entering overheated territory, raising questions about sustainability amidst ongoing enthusiasm.
Protect your investments! Learn about unregulated firms flagged by the FCA and discover how WikiFX helps traders avoid scams and choose legitimate brokers.