9 January 2025
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Crypto Derivatives Market Sees $689 Million in Liquidations Amid Price Crash
Recent data indicates significant liquidations in the cryptocurrency derivatives market as Bitcoin and Ethereum experienced sharp declines.
Market Overview
- Bitcoin fell below $95,000, marking a drop of over 5% in the last 24 hours.
- Ethereum dropped to $3,350, a decline of nearly 8%, retracing its recent gains for 2025.
- Liquidations on derivatives exchanges reached $689 million, with long positions accounting for 88% of this total.
Liquidation Breakdown
- $609 million of the liquidated contracts were long positions.
- Ethereum led individual liquidations with approximately $152 million, surpassing Bitcoin.
The high number of liquidations reflects the bearish sentiment prevailing in the market, especially among traders who had bet on price increases.