Crypto Market Sees $246 Million in Liquidations Amid Ongoing Turmoil
The crypto market has experienced a significant downturn, with over $2 billion lost since February 3. Total liquidations have surpassed $246 million, affecting more than 120,337 traders. The largest single liquidation was worth $1.30 million on OKX for an ETH/USDT pair.
Market Influences
- Economic uncertainty related to President Trump's fiscal policies is contributing to market volatility.
- Speculation regarding the Federal Reserve's next interest rate decision is influencing capital flows into risk assets.
- Discussions on crypto regulations and potential stablecoin restrictions are unsettling investors.
Bitcoin fell to $95,000 before slightly recovering to $97,691, impacting the global crypto market cap which stands at $3.19 trillion.
Liquidation Details
- Long positions accounted for $167 million in liquidations, while short traders faced $57 million.
- Binance contributed nearly 40% of total liquidations, followed by OKX, Bybit, Gate.io, and HTX.
Market Sentiment
Concerns about the end of the bull run are growing as market sentiment regresses to levels seen after the Terra and FTX collapses in 2022. Uncertainty prevails, and leveraged traders face challenges as the market remains volatile.