Short-sellers see max pain as crypto market pumps following inflation report
Cryptocurrency short-sellers have seen a massive liquidation in the last four hours as the market has been boosted on the back of inflation remaining within expected bounds.
CoinGlass data shows that over 85% of crypto liquidations at $151.24 during the period were short positions.
Meanwhile, long-term liquidations over the same period are just over $21 million at time of writing, or less than 15%.
Meanwhile, liquidations totaled $223.65 million over the 24-hour timeframe, with short liquidations reaching $175.82 million and longs $48.76 million.
About 57,721 traders have been liquidated in the last 24 hours.
BTC clearing
Over the past four hours, just over $57 million has been liquidated in short BTC positions as the flagship crypto breached $26,000. The long-term liquidation for the period was $11.71 million for him.
BTC was trading at $25,927 at the time of writing after being rejected by the Resistance at $26,500.
Total BTC liquidation in the last 24 hours reached $103.61 million, of which $49.15 million was liquidated in the last 4 hours.
ETH liquidation
Ethereum short sellers have experienced similar pain as short positions worth just under $40 million have been liquidated in the last four hours. Long term liquidation he was $4.65 million.
About $56 million in ETH positions have been liquidated in the last 24 hours, and about $21 million in the last four hours at the time of writing.
According to CoinGlass data, the largest liquidation was an ETHUSD position with a total value of $10.01 million.
exchange number
The majority (34.28%) of liquidations in the last 24 hours were made on Binance. Short sale liquidations were $55.76 million, accounting for 73.53% of the total $75.83 million.
OKX recorded the second most liquidations (22.08%) during the period, with short liquidations on the exchange reaching $42.07 million. His total liquidation on the exchange was $48.84 million.
Bybit also recorded a significant percentage (18.1%) of liquidations during the period, with shorts contributing $27.47 million out of a total of $40.04 million.
