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Crypto liquidations surpass half a billion dollars while the crypto market capitalization and the majority of the leading cryptocurrencies have been moving in the green zone.&nbsp; 
According to data provided by Coinglass, the total crypto liquidations reached $567 million in the past 24 hours. Of this tally, $316.83 million worth of digital currencies have been liquidated from short positions and $250.92 million from long positions. 
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 <img loading="lazy" decoding="async" width="1007" height="478" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-05-121245.png" alt="Crypto liquidations surpass $560 million, bull run continues - 5" class="wp-image-14255501">
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 Crypto liquidations in 24 hours – March 5 | Source: Coinglass
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</figure> 
Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) alone accounts for roughly $172 million of the liquidations — $112 million from short positions and $60 million from long-positioned trades. The liquidations come as BTC recently <a href="https://crypto.news/bitcoin-67000-record-market-cap/">touched a 28-month-high</a> of $68,760 — a level last seen in November 2021.&nbsp; 
 You might also like: <a href="https://crypto.news/ethereum-foundation-eth-transfer/"> Ethereum Foundation makes $13.3m ETH transfer, prompting market speculation </a> 
Bitget managing director Gracy Chen <a href="https://crypto.news/bitget-bitcoin-bull-market/">expects the Bitcoin price to surpass</a> the $180,000 mark and probably even reach $200,000 before the current bull cycle ends.&nbsp; 
Per the data provider, the largest crypto exchange by trading volume, Binance, has the biggest share of the liquidations, $239.8 million, followed by OKX, Bybit and Huobi with $195 million, $57 million and $43 million of liquidations in the past 24 hours, respectively.&nbsp; 
Data from CoinGecko <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="noopener">shows</a> that the global crypto market capitalization is currently sitting at $2.62 trillion with Bitcoin having a $50.1 dominance — BTC’s market cap is hovering around $1.31 trillion at the time of writing.&nbsp; 
In addition, the total crypto market’s open interest is up by 6.4% over the past day, currently sitting at $67.18 billion, according to Coinglass. 
The global cryptocurrency trading volume has also reached $348.94 billion, rising 87% in the past 24 hours, per Coinglass data. 
 Read more: <a href="https://crypto.news/binance-launch-crypto-blum/"> Former Binance execs launch hybrid crypto exchange Blum </a>

Crypto liquidations surpass $560 million, bull run continues

crypto.news

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