The cryptocurrency market has experienced sharp price swings, leading to liquidations exceeding $520 million. This article examines major liquidations, price changes in Bitcoin and Ethereum, and factors influencing the volatility.
Major Market Liquidations
Data from Coinglass revealed that around 186,000 investors were liquidated, with total liquidations on centralized exchanges amounting to $524.8 million. Bitcoin (BTC) led the liquidations by closing out over $142.5 million worth of positions, $101 million of which were long positions. Ether (ETH) also saw significant liquidations totaling $89.9 million, $49.2 million of which were long positions.
Bitcoin and Ethereum Price Changes
Bitcoin is down 2.26% over the past 24 hours, trading at $92,500 at the time of writing. This follows a brief surge earlier in the week when BTC surpassed the $100,000 mark, fueled by optimism over the new administration’s pro-crypto policies. Ether fell 0.85% to $3,208, extending losses after a double-digit drop the previous day.
Factors Affecting Volatility
The volatility comes at a time of heightened market activity and investor sentiment, with analysts suggesting that recent macroeconomic developments and regulatory expectations could contribute to the volatility.
Market watchers will continue to monitor the effects of heightened volatility and urge investors to exercise caution amid uncertain conditions.
