Bitcoin

<h2 id="quick-take">Quick Take</h2> 
<a href="https://cryptoslate.com/coins/bitcoin/">Bitcoin</a> has been struggling to <a href="https://cryptoslate.com/market-turns-green-as-btc-climbs-past-35k-despite-weekend-lull/">regain</a> the $35,000 price level over the weekend, causing a wave of liquidations in the crypto market. 
In the past 24 hours, the crypto market witnessed approximately $114 million in liquidations — $66 million on the long side and $48 million on the short side. 
<figure id="attachment_371388" aria-describedby="caption-attachment-371388" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-371388 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/lli.png" alt="Liquidations: (Source: Coinglass)" width="1081" height="557" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/lli.png 1081w, https://cryptoslate.com/wp-content/uploads/2023/11/lli-300x155.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/lli-1024x528.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/lli-768x396.png 768w" sizes="(max-width: 1081px) 100vw, 1081px">
 <figcaption id="caption-attachment-371388" class="wp-caption-text">
 Liquidations (Source: <a href="https://www.coinglass.com/LiquidationData">Coinglass</a>)
 </figcaption>
</figure> 
Nearly half of the total liquidations — approximately $50 million — took place on Binance. Bitcoin bore the brunt of these liquidations, with over $30 million liquidated, indicating a strong market response to the price fluctuations. 
An examination of the liquidation heatmap from Nov. 5 presents an interesting trend: a significant amount of leverage congregated around the $34,400 mark. As Bitcoin touched this level, it resulted in a surge of long liquidations. 
<figure id="attachment_371401" aria-describedby="caption-attachment-371401" style="width: 100%" class="wp-caption aligncenter">
 <figcaption id="caption-attachment-371401" class="wp-caption-text">
 Liquidation Heatmap (Source: <a href="https://www.coinglass.com/LiquidationData">Coinglass</a>)
 </figcaption>
</figure> 
The post <a rel="nofollow" href="https://cryptoslate.com/insights/binance-saw-almost-half-of-the-114m-liquidations-in-the-past-24-hours/">Binance saw almost half of the $114M liquidations in the past 24 hours</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Binance saw almost half of the $114M liquidations in the past 24 hours

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