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 <p class="is-style-lead">The total amount of liquidations on the crypto market over the past 24 hours exceeded $250 million.</p>
 <p>According to Coinglass, the volume of liquidations currently stands at $252.5 million. Most forced closed positions were in Bitcoin (BTC) and Ethereum (ETH).</p>
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   <img decoding="async" width="970" height="628" src="https://cdn.thebittimes.com/images/2024/01/19/a03c8f66f7c00fece019d2c58840a777.webp" alt="Traders liquidate over $250m amid Bitcoin price decline - 1"> 
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   Source: Coinglass
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 <p>Earlier, the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of Bitcoin dropped below $41,000, costing traders $81.1 million. Market participants who opened long positions in Ethereum also suffered significant losses – the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of the second largest cryptocurrency by capitalization to $2,400, costing traders $32 million.</p>
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   Source: Coinglass
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 <p>Over 90% of liquidations were distributed between OKX, Bybit, Huobi and Binance. Binance executed the most significant order – the exchange closed a long BTCUSDT for $7.31 million.</p>
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 <p>At the time of writing, the rate of the largest cryptocurrency was $41,200. According to Coinglass data, in the last few hours, traders have opened more long positions than short ones, indicating market participants’ confidence in the further growth of BTC.</p>
 <p>Crypto enthusiasts and market experts attribute the fall to asset managers Grayscale‘s active sale of BTC. Grayscale’s Bitcoin Trust (GBTC) previously experienced significant outflows totaling $594 million in light of the current downturn in the cryptocurrency market. In parallel, Grayscale moved 9,840 BTC to Coinbase Prime worth $418 million, bringing total volume to 41,478 BTC since Jan. 12.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/traders-liquidate-over-250m-amid-bitcoin-price-decline-tbt77066.html">https://thebittimes.com/traders-liquidate-over-250m-amid-bitcoin-price-decline-tbt77066.html</a></p>

Traders liquidate over $250m amid Bitcoin price decline

TheBitTimes

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