Crypto Liquidations Total Nearly $306 Million Amid Bitcoin Rally

The cryptocurrency derivatives market experienced significant liquidations, totaling nearly $306 million in the last 24 hours. Key details include:

Long positions accounted for $154 million and short positions for $151 million.
The distribution indicates an even impact on both sides despite Bitcoin's recent price increase.
Bitcoin led liquidations with just under $98 million, followed by Ethereum with $37 million and XRP with $25 million.
Dogecoin ranked fourth with almost $16 million in liquidations.
Analyst noted a decrease in Bitcoin Open Interest relative to market cap from 2.8% in November to about 2.4% now.

Bitcoin's price has reached approximately $104,000 amid this activity.