Bitcoin’s price rally above $69,000 leads to widespread market liquidations

by e_cash_top


Quick Take

Bitcoin has started the week strong with a push above $69,000—up more than 3% today and marking its highest value since March 16. The move triggered a flood of liquidations in the digital asset ecosystem. These liquidations stem partly from the digital assets strong rally, peaking at an impressive $69,400.

BTCUSD Bitstamp: (Source: TradingView)
BTCUSD Bitstamp: (Source: TradingView)

Coinglass data shows that, in the past 24 hours, the ecosystem has seen nearly $200 million in liquidations, with shorts accounting for a predominant portion of the total, around $129 million. The last hour alone witnessed a massive $35 million worth of liquidations, primarily comprising of shorts.

Liquidation Heatmap: (Source: Coinglass)
Liquidation Heatmap: (Source: Coinglass)

Data from Coinglass indicates a substantial amount of leverage, approximately $1.18 billion, parked just above the $73,000 mark.

Binance BTC/USDT Liquidation Heatmap: (Source: Coinglass)
Binance BTC/USDT Liquidation Heatmap: (Source: Coinglass)

The post Bitcoin’s price rally above $69,000 leads to widespread market liquidations appeared first on CryptoSlate.



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