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Bitcoin led liquidation charge
This price outlook has forced a relatively more massive liquidation for short traders, who have lost $91.85 million, against $26.11 million for long traders. Following Bitcoin in the top liquidation streak is Ethereum, which has lost a total of $66.31 million.
These relatively lower liquidation figures hinge on the milder price moves that Ethereum has experienced. Despite the Bitcoin rally and multiple ATH breaches, Ethereum remains down 35.73% from its ATH of $4,891.70. Currently, ETH has added 0.5% to reach $3,139.91.
More liquidations ahead?
With this sustained demand and limited emissions through the Bitcoin halving, the coin might continually soar, further putting short traders at risk of liquidation. While the peak of the Bitcoin price rally remains unknown, general analyst consensus hints at a short-term surge above $100,000.
Read original article on U.Today