Bitcoin

April

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The cryptocurrency market has witnessed over $210 million worth of liquidations across the board, with long positions accounting for 85% of this bloodbath amid the latest market turmoil. 
Data from crypto analytics resource Coinglass confirms that market participants have suffered a blow from the recent turbulence, which has triggered a 4% drop in the price of Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="">BTC</a>) in the last 24 hours. Specifically, 92,298 traders have witnessed liquidations worth $210.26 million in long and short positions. 
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 Crypto liquidations map – April 25 | Source: Coinglass
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The bulk of these liquidations, totaling $178.2 million, are linked to long positions, while short positions have seen liquidations amounting to $32.05 million. With long positions comprising 84.7% of the liquidated trades, sentiment has swiftly transitioned from bullish to bearish, as the market flips red. 
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Moreover, the current market instability stems from Bitcoin’s retreat from its recent high of $67,183 on April 23. Following this peak, BTC experienced a notable correction, culminating in a 3.2% decline by the end of yesterday’s trading session.&nbsp; 
This bearish momentum has persisted, leading Bitcoin to relinquish the psychologically significant $64,000 threshold earlier today. The global cryptocurrency market capitalization has declined by 3.87% over the past 24 hours, now standing at $2.47 trillion, as altcoins venture into bearish territory. 
Being the premier cryptocurrency, Bitcoin has witnessed the largest liquidated positions among all crypto assets, totaling $44.6 million within 24 hours.&nbsp; 
The liquidation trend was <a href="https://crypto.news/bitcoin-longs-lead-247m-in-liquidations-as-markets-lull/" rel="">noticeable</a> across the market on April 18 before the most recent Bitcoin halving, resulting in a loss of $247 million. The <a href="https://crypto.news/bitcoins-post-halving-behavior-trends-and-analysis/" rel="">Bitcoin halving</a>, taking place on April 20, sparked renewed optimism after this <a href="https://crypto.news/bitcoin-drops-below-60k-traders-liquidate-115m-in-4-hours/" rel="">downturn</a>, prompting a resurgence of long positions amid the market’s recovery. 
Despite the recent increase in liquidations, the derivatives market has witnessed a surge in volume, with trade volume jumping by 30% in the last 24 hours to reach $159 billion at the reporting time. This is due to an increase in short positions, with the long/short ratio now <a href="https://www.coinglass.com/LongShortRatio" target="_blank" rel="">sitting</a> at 0.7832. 
 Read more: <a href="https://crypto.news/doj-arrests-samourai-wallet-founder-over-2b-illegal-money-flow/" rel=""> DOJ arrests Samourai Wallet founder over $2b illegal money flow </a>

Crypto liquidations cross $210m with longs accounting for 85%

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