Crypto short liquidation cross $750M in 4 hours as Bitcoin reclaims $20k

admin October 26, 2022

0 1 minute read

Over $750 million in crypto shorts have been liquidated in the last four hours as Bitcoin regained $20,000.

Bitcoin and Ethereum led the liquidations, with $356.14 million and $328.18 million wiped out respectively. The Coinglass data below highlights a breakdown of the entire cryptocurrency industry.

Liquidations hit a three-month high, as shown in the chart below. The next highest level liquidation was the long liquidation on August 19, with $562 million liquidated. His total liquidation in 24 hours on Oct. 25 reached $790 million.

The single most significant short liquidation occurred on the Okex exchange where 2,000 ETH was liquidated at $1,524. Ethereum was up 6% on the day as it crossed his $1,500 around 7pm BST.

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