In the last 24 hours, liquidations on the crypto market have occurred totaling over $200 million, mainly affecting positions in BTC and ETH. A sharp spike in BTC price to $47,900, followed by a drop below $45,000, led to nearly $85 million in trader losses. The fall in Ethereum's price to $2235 and the subsequent rebound cost market participants $41.74 million. Among altcoins, Solana (SOL) brought the biggest losses, costing traders $11 million.
Over 90% of the liquidations occurred on major exchanges, including OKX, Bybit, Huobi, and Binance. Bybit registered the largest order, closing a BTC/USDT long for $6 million.
BTC's price experienced volatility after a message appeared on Twitter from the SEC about the approval of spot bitcoin ETFs, which led to a rise in price to the annual high of $47,900. However, this information was soon refuted, resulting in Bitcoin falling more than 6% to $44,700. At the time of writing this article, Bitcoin is trading around $45,900, and traders are beginning to open long positions again, anticipating further growth of the asset.
