Cryptocurrency

Bitcoin

Notable

In the cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a>, investors had to struggle with liquidations in the futures market following overnight surges led by <a href="http://en.coin-turk.com/ai-interest-reaches-record-highs-an-examination-of-global-trends/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>. Those who opted for short positions bore the brunt of the losses. Coinbase analysts expect the rally to continue through December, meaning those unwilling to change their short positions may face increasing losses.
What Happened in the Last 24 Hours?
According to data from blockchain analytics firm Coinglass, heavy losses occurred in the last 24 hours as more than 100,000 positions were liquidated in the BTC/USD pair, resulting in over $85 million in losses for short sellers.
Within the last 24 hours in the cryptocurrency market, positions worth over $310 million were liquidated, encompassing both long and short positions. More than $180 million of these liquidated positions were from short sales, where investors bet on price declines.
Bitcoin continues to rise with the anticipation of spot exchange-traded funds being approved soon; however, analysts suggest that the recent price movements are more closely linked to the improving macroeconomic outlook. Coinbase released a report on December 1st, stating that the current conditions could persist at least until January, indicating potential losses for those who are shorting.
<img decoding="async" class="aligncenter wp-image-284432 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/trader.jpg" alt="" width="800" height="533">
Notable Data During the Process
During this period, the highest volume of transactions took place on <a href="http://en.coin-turk.com/binance-ceo-predicts-bitcoin-bull-run-in-2025-amid-market-instability/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, subjecting investors to $120 million in liquidations across various cryptocurrency assets. Short sellers on Binance incurred losses of $66 million, with $23 million of that on the BTC/USD pair alone. The largest single liquidation in the last 24 hours occurred on the cryptocurrency exchange BitMEX, where an investor lost over $6 million on the BTC/USD pair.
Liquidations occur through contracts created by investors on the futures market and happen when the requirements of the transaction are not met. In such cases, the exchange closes the investors’ positions either partially or completely at a loss. The futures market is known as a high-risk, high-reward strategy typically used by professional investors. Continue Reading: <a href="https://en.coin-turk.com/cryptocurrency-market-faces-liquidation-struggle-amid-sudden-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/cryptocurrency-market-faces-liquidation-struggle-amid-sudden-surge/</a>

Cryptocurrency Market Faces Liquidation Struggle Amid Sudden Surge

COINTURK NEWS

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