Ethereum

Bitcoin

The total amount of liquidations on the crypto market over the past 24 hours approached $269 million. 
Most of the forced closings were in Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>), according to <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener">Coinglass</a> data. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="936" height="628" src="https://crypto.news/app/uploads/2023/12/Screenshot-2023-12-06-at-12.57.29.png" alt="BTC jump to $44k cost traders almost $270m - 23" class="wp-image-14224142">
 <figcaption class="wp-element-caption">
 Source: <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener">Coinglass</a>
 </figcaption>
</figure> 
The sharp rise in BTC price to a new yearly high of $44,313 cost short sellers $174.91 million. Market participants who opened short positions in Ethereum also suffered significant losses – the jump in the price of the second largest cryptocurrency by capitalization to $2,300 cost them $34.21 million. 
The leaders in liquidations among altcoins were ORDI, BIGTIME and several other tokens. 
 You might also like: <a href="https://crypto.news/bitcoins-road-to-42k-how-far-will-it-go/"> Bitcoin’s road to $42k: How far will it go? </a> 
More than 90% of the liquidations were distributed among OKX, Bybit, Binance, and Huobi. The largest order was executed by OKX – the exchange closed a long BTCUSDT in the amount of $8.86 million. 
The price of BTC updated its annual maximum, exceeding $44,000. The rate of the main cryptocurrency, fueled by speculation around the imminent approval of applications for a spot Bitcoin ETF, has been growing for several weeks in a row without significant corrections. At the time of writing, BTC is trading at $43,990. 
A few days earlier, traders <a href="https://crypto.news/traders-liquidated-193m-in-crypto-amid-bitcoins-surge/">liquidated</a> almost $193 million after the BTC price crossed the $41,000 mark. The largest number of positions were liquidated on Binance. 
 You might also like: <a href="https://crypto.news/bitcoin-primed-for-100000-says-crypto-analyst/"> Bitcoin primed for $100,000 says crypto analyst </a>

BTC jump to $44k cost traders almost $270m

crypto.news

Other articles published on Dec 6, 2023

Is ApeMax Worth Buying in the Crypto Bull Run? A Closer Look at the Trending ApeMax Meme Coin Pre...

Bitcoin Eyes Retesting $44,420 Level as Bulls Continue Severe Domination

Shiba Inu Price Corrects, Can it Recover? Dogecoin and Everlodge Uptrend Continues

The Future of Stacks (STX) Coin and Its Dependence on Bitcoin’s Growth

Bitcoin Crucial Metric Surge Revealed, At Least 890% BTC Spike on Horizon

New Tax Structure Implemented

Join our free newsletter for daily crypto updates!