This article provides an overview of the top cryptocurrency exchanges by liquidations over the past week, highlighting market dynamics and the impact of recent sell-offs.
Points
- Overview of liquidations across top crypto exchanges.
- Analysis of the factors driving recent market sell-offs.
- Breakdown of liquidation values by exchange.
- Implications for the crypto market and investor sentiment.
Top Exchanges by Liquidations In the Last Week
The crypto market experienced a drastic decline on Sunday, which continues today. Top 7 Ico reports that the global crypto market cap has dropped 13.5%. It now stands at about $1.85 trillion.
Over the last 24 hours, crypto-tracked futures registered over $1.14 billion worth of liquidations as the market sell-off became more severe on Sunday. The bloodbath was catalyzed by a stronger Japanese Yen and rumors of market maker Jump Trading liquidating its crypto business.
More about the Liquidations
- ByBit: $68.5 million in longs and $18.2 million in shorts
- Bitmex: $32.1 million in longs and $4.1 million in shorts
- CoinEx: $25.2 million in longs and $2.5 million in shorts
- Bitfinex: $25.2 million in longs and $1.2 million in shorts
Over 275,000 individual traders were liquidated, and the highest single liquidation order was placed on the cryptocurrency exchange Huobi. The order involved a trade between Bitcoin and US Dollars valued at $27 million. The statistics show that around 87% of all affected traders were long traders who bet on increasing prices.
The liquidations occurred as Bitcoin declined more than 14.8% over 24 hours, while Ethereum experienced a decline of up to 25% before experiencing a modest recovery. Due to the dip, the crypto fear and greed indicator hit its lowest level since early July. It now shows extreme “fear” in the market.
解説
- Market Sell-Off: The recent sell-off in the crypto market, driven by factors such as a stronger Yen and liquidation rumors, highlights the volatility and interconnectedness of global financial markets.
- Liquidation Impact: Significant liquidations across top exchanges underscore the high-risk nature of leveraged trading and its potential to amplify market downturns.
- Investor Sentiment: The shift in the crypto fear and greed indicator to extreme fear reflects the heightened anxiety among investors, influencing trading behavior and market stability.
- Future Trends: Monitoring liquidation data and market sentiment will be crucial for predicting future market movements and identifying potential recovery opportunities.