From December 5 to December 6, 2023, more than $121.02 million was liquidated in the Bitcoin futures contract market, according to CoinGlass data. The majority of this amount corresponds to the closing of short positions.
The total volume of liquidations in the market exceeds $307 million. Among the assets that have had the most significant impact on traders due to their volatility, Bitcoin, Ethereum, and ORDI can be highlighted.
Daily volume of liquidations in cryptocurrency futures contracts market.
Among cryptocurrency exchanges, OKX stands out, surpassing Binance in terms of Bitcoin contract liquidation volume. OKX is one of the platforms responsible for more than $41 million in liquidation volume, of which $33 million is associated with short positions.
Daily volume of Bitcoin futures contract liquidations among centralized exchanges.
According to information from The Block, since the beginning of December 2023, the volume of liquidations for short positions has exceeded $265.2 million. This is considering that the data for December 6th is not yet complete.
Volume of Bitcoin futures contract liquidations on centralized exchanges.
The sharp increase in this indicator is explained by the high volatility in the market. Over the last 24 hours, the price of Bitcoin has twice reached its highest point in a year. The asset successfully tested the $44,000 mark, but there was a subsequent pullback.
