Ethereum

Cryptocurrency

Bitcoin

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 <p class="paragraph">The cryptocurrency market has undergone a robust rally, contributing more than $100 billion to its total market capitalization index since October 23. In the past 24 hours alone, this upward momentum has resulted in liquidations exceeding $400 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, with over $300 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> originating from <a rel="noopener noreferrer nofollow" title="short" href="https://thebittimes.com/tag/short.html">short</a> positions.</p>
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 <p class="paragraph">Notably, Bitcoin (BTC) was the protagonist, with a price appreciation superior to 12% in a day. Bitcoin <a rel="noopener noreferrer nofollow" title="short" href="https://thebittimes.com/tag/short.html">short</a> <a rel="noopener noreferrer nofollow" title="seller" href="https://thebittimes.com/tag/seller.html">seller</a>s were the biggest losers, with over $180 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in <a rel="noopener noreferrer nofollow" title="short" href="https://thebittimes.com/tag/short.html">short</a> positions liquidated of the $222 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> BTC total liquidations.</p>
 <p class="paragraph">Ethereum (ETH) traders lost $60 million in the day, of which $44 million was also from crypto speculators betting on lower prices, according to data retrieved by Finbold on October 24 from <em>CoinGlass</em>.</p>
 <p class="paragraph">Interestingly, the higher liquidation volume occurred in the last 12 hours. In this period, $317 million was liquidated from short and long positions. Of which, 76% ($241 million) from short sellers getting ‘REKT.’</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="324" src="https://cdn.thebittimes.com/images/2023/10/24/c677155abd8db6416c477d1b6c55bad4.webp" alt="Liquidation heatmap." class="wp-image-133824" srcset="https://cdn.thebittimes.com/images/2023/10/24/c677155abd8db6416c477d1b6c55bad4.webp 1024w, https://cdn.thebittimes.com/images/2023/10/24/c677155abd8db6416c477d1b6c55bad4.webp 300w, https://cdn.thebittimes.com/images/2023/10/24/c677155abd8db6416c477d1b6c55bad4.webp 768w, https://cdn.thebittimes.com/images/2023/10/24/c677155abd8db6416c477d1b6c55bad4.webp 1536w, https://cdn.thebittimes.com/images/2023/10/24/c677155abd8db6416c477d1b6c55bad4.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Liquidation heatmap. Source: <em>CoinGlass</em>
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 <h2 dir="ltr" style="line-height:1.38;margin-top:18pt;margin-bottom:6pt" id="docs-internal-guid-82b62165-7fff-4130-664d-2e83374cfd1d"><span style="font-size:16pt;font-family:Arial,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline">Derivatives volume surge as <a rel="noopener noreferrer nofollow" title="short" href="https://thebittimes.com/tag/short.html">short</a> <a rel="noopener noreferrer nofollow" title="seller" href="https://thebittimes.com/tag/seller.html">seller</a>s get punished</span></h2>Amid this reported blood bath for <a rel="noopener noreferrer nofollow" title="short" href="https://thebittimes.com/tag/short.html">short</a> <a rel="noopener noreferrer nofollow" title="seller" href="https://thebittimes.com/tag/seller.html">seller</a>s, the top three cryptocurrencies trending on the derivatives market have seen massive increases in their trading volume in the last 24 hours. 
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 <p class="paragraph">Bitcoin volume is up 221%, while Ethereum and XRP derivatives volume are both up 108% in the period. They registered $106 billion, $31 billion, and $2.7 billion of volume during this rally, respectively.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="236" src="https://cdn.thebittimes.com/images/2023/10/24/3ba0a232d189f7871348029811c46506.webp" alt="Crypto derivatives trend." class="wp-image-133826" srcset="https://cdn.thebittimes.com/images/2023/10/24/3ba0a232d189f7871348029811c46506.webp 1024w, https://cdn.thebittimes.com/images/2023/10/24/3ba0a232d189f7871348029811c46506.webp 300w, https://cdn.thebittimes.com/images/2023/10/24/3ba0a232d189f7871348029811c46506.webp 768w, https://cdn.thebittimes.com/images/2023/10/24/3ba0a232d189f7871348029811c46506.webp 1536w, https://cdn.thebittimes.com/images/2023/10/24/3ba0a232d189f7871348029811c46506.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Crypto derivatives trend. Source: <em>CoinGlass</em>
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 <p class="paragraph">It is also noteworthy that 95,000 traders were liquidated, with the largest single liquidation order happening on Binance. This short seller was liquidated in a $9.98 million order on the BTC pair against Tether USD (USDT).</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-short-sellers-get-rekt-losing-300-million-in-a-day-tbt67540.html">https://thebittimes.com/crypto-short-sellers-get-rekt-losing-300-million-in-a-day-tbt67540.html</a></p>

Crypto short sellers get REKT losing $300 million in a day

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