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Cryptocurrency futures market, short positions liquidated at $84,082,800
According to a report by PAnews based on CoinAnk data on January 13th, a large-scale liquidation event occurred in the cryptocurrency futures market over the past 24 hours. The total liquidation volume, combining longs and shorts across the entire market, reached $149 million, with short positions accounting for particularly significant liquidations of $84.08 million, surpassing the $64.71 million in long liquidations.
Liquidation Status of Major Assets
Bitcoin and Ethereum were at the center of market volatility. BTC saw liquidations of positions worth $40.1887 million, while ETH had contracts worth $20.2591 million settled. These two assets constitute a substantial portion of the total liquidation amount.
Implications of Short Position Liquidations
A noteworthy point in this liquidation data is that the liquidation amount of short positions( exceeded that of long positions). This suggests that as the market moved upward, traders holding short positions( took losses and closed their positions. The $84.08 million liquidation particularly indicates significant losses for short position holders, reflecting a rapid shift in market sentiment.
This scale of liquidation demonstrates that market volatility in the cryptocurrency space remains high, emphasizing the importance of risk management for traders engaging in leverage trading.