Biggest long liquidation event for crypto in 2023 took place on April 19

quick take

• About $260 million long liquidated on April 19th. This is Long’s biggest liquidation in 2023.
• About $250 million of shorts were liquidated on April 14th, making it the largest number of liquidations this year.
• These liquidation cascades show that derivatives have grown slightly as the year progresses and confidence in crypto continues.
• We can also see how the market hedged in terms of its dominance, showing that the market was overconfident.

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