Crypto Market Sees $489M in Liquidations as Bitcoin Dips to $95K

The crypto market experienced significant volatility over the past 24 hours, with $489.46 million in liquidations across various assets, including Bitcoin.

In the past hour alone, liquidations totaled $5.58 million, with $2.07 million from long positions and $3.50 million from shorts. Over a 4-hour period, liquidations reached $29.09 million, with shorts accounting for $20.56 million and longs for $8.53 million.

The 12-hour period saw a larger total of $130.15 million in liquidations, with $58.32 million from longs and $71.84 million from shorts. Over the full 24-hour span, liquidations overwhelmingly came from long positions, totaling $358.96 million, compared to $130.50 million from shorts.

Bitcoin Leads Liquidations amid $95K Dip

Bitcoin’s dominance in the market was reflected in its liquidation volume, which made up the largest portion, at $21.73 million, in the last 12 hours. Meanwhile, on the 24-hour scale, the value reached approximately $81 million, with longs accounting for the largest share.

Notably, Bitcoin’s liquidation volume on Binance totaled $23.22 million in long positions and $6.55 million in short positions, while OKX recorded $7.95 million in long liquidations and $7.79 million in shorts.

Shorts dominated on both exchanges in the 12-hour time frame, while longs took the lead on the 24-hour scale. This mixed dynamic emerged as Bitcoin’s price dropped to $95K over the weekend but has since recovered to above $98K at press time, affecting trading positions betting on BTC’s movement.

Other Assets Seeing Significant Liquidations

Meanwhile, the altcoin market also experienced substantial activity as well. Sandbox (SAND) saw liquidations totaling $14.33 million, accompanied by a 33.39% surge in its price to $0.7739 over the last 24 hours. Over the past week, SAND’s price increased by an impressive 113.43%, showcasing growing market interest.

Ethereum (ETH) recorded $12.51 million in liquidations, while its price declined by 1.10% to $3,387 in the past day, despite an 8.79% increase over the week.

XRP followed with $9.01 million in liquidations, showing a 0.27% price uptick to $1.46 over 24 hours and a 25.63% weekly gain.

Dogecoin (DOGE) faced $7.82 million in liquidations, with its price falling by 3.25% to $0.4239 today. Although it rose by 14.67% over seven days.

Other notable tokens included Stellar (XLM), which had $6.80 million liquidated. Its price dropped by 8.81% to $0.5153 in 24 hours but has surged by 127% over the past week.

Solana (SOL) saw $3.61 million liquidated, while Cardano (ADA) faced $3.27 million in liquidations. Their prices declined by 1.63% and 1.94%, respectively, over the last day. Both tokens experienced substantial gains over the week.