Crypto Liquidations Total $341 Million Amid Bitcoin Recovery to $106,000

The crypto market is experiencing a significant upheaval with a total of $341.85 million in liquidations over the last 24 hours. The price recovery of Bitcoin to $106,000 caused massive losses among traders:

Total liquidations: $341.85 million.
Bitcoin led with $115.98 million in liquidations.
Short traders faced most of the losses at $106.75 million, while long traders lost $9.22 million.

The unexpected Bitcoin price recovery disrupted short traders who anticipated a continued downtrend. Ethereum also saw significant liquidations:

Total Ethereum liquidations: $92.01 million.
Short traders were impacted the most, losing $76.02 million.

Other digital assets like Dogecoin, XRP, and others were similarly affected by market movements.

Broader Crypto Market Cap at $3.56 Trillion

The crypto market rebounded, gaining approximately $170 billion in a day, raising the total market capitalization to $3.56 trillion, a 3.91% increase.

This surge was influenced by external factors such as the US Senate passing a funding bill to end the government shutdown.
The Depository Trust & Clearing Corporation (DTCC) added proposed spot XRP ETFs to its "Active and Pre-Launch" list, boosting market confidence.