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

Quick Take

  • Roughly $260 million of longs were liquidated on April 19; this is the biggest liquidation for longs in 2023.
  • Roughly $250 million of shorts were liquidated on April 14, previously the most liquidations seen this year.
  • These liquidation cascades show that derivatives have grown slightly as the year progresses, and confidence within crypto continues.
  • You can also see how the market was hedged long in terms of dominance, showing the market was overconfident.
Liquidations: (Source: Coinglass)
Liquidations: (Source: Coinglass)
Long Dominance: (Source: Glassnode)
Long Dominance: (Source: Glassnode)

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Source: https://cryptoslate.com/insights/biggest-long-liquidation-event-for-crypto-in-2023-took-place-on-april-19/