Ethereum

Bitcoin

<h2 id="quick-take">Quick Take</h2> 
<p>The recent drop in Bitcoin, breaking below the $37,000 level, has resulted in a wave of liquidations across the crypto market, surpassing $100M. Among the major digital assets, Ethereum faced a significant hit with $15M in liquidations, while Bitcoin followed closely with $13M, primarily due to long positions liquidated.</p> 
<figure id="attachment_373225" aria-describedby="caption-attachment-373225" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-373225 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/lle-1.png" alt="Liquidation heatmap: (Source: Coinglass)" width="727" height="389" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/lle-1.png 727w, https://cryptoslate.com/wp-content/uploads/2023/11/lle-1-300x161.png 300w" sizes="(max-width: 727px) 100vw, 727px">
 <figcaption id="caption-attachment-373225" class="wp-caption-text">
  Liquidation heatmap: (Source: Coinglass)
 </figcaption>
</figure> 
<p>Market leader in crypto exchanges, Binance, bore the brunt of these liquidations, accounting for over half of the total amount, approximately $50M. This indicates the high volatility inherent in the market and the risks associated with leveraged positions.</p> 
<p>Significantly, a large amount of leverage is currently clustered in the $36,000 to $37,000 range. This concentration suggests that further price fluctuations within this band could trigger additional significant liquidations, adding to market volatility.</p> 
<figure id="attachment_373224" aria-describedby="caption-attachment-373224" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-373224 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/lle.png" alt="Liquidation Map: (Source: Coinglass)" width="1229" height="531" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/lle.png 1229w, https://cryptoslate.com/wp-content/uploads/2023/11/lle-300x130.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/lle-1024x442.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/lle-768x332.png 768w" sizes="(max-width: 1229px) 100vw, 1229px">
 <figcaption id="caption-attachment-373224" class="wp-caption-text">
  Liquidation Map: (Source: Coinglass)
 </figcaption>
</figure> 
<p>The post <a href="https://cryptoslate.com/insights/bitcoin-drop-triggers-over-100m-in-crypto-market-liquidations-in-the-past-24-hours/">Bitcoin drop triggers over $100M in crypto market liquidations in the past 24 hours</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin drop triggers over $100M in crypto market liquidations in the past 24 hours

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