Crypto Market Sees $971 Million in Liquidations Amid Price Recovery
The cryptocurrency market experienced significant liquidations, totaling $971 million in the past day, following a recovery in Bitcoin and altcoins. This rebound was triggered by Donald Trump's announcement of a Crypto Strategic Reserve, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano.
Key Points
- Bitcoin fell to $78,000 but surged to nearly $95,000 before retracing to $92,800.
- Ethereum rose from $2,550 to $2,360 during the same period.
- In the last 24 hours, Bitcoin increased by 8% and Ethereum by 6%.
- XRP, Solana, and Cardano saw gains of 17%, 13%, and 48%, respectively.
- Liquidations included $558 million from short positions (57% of total) and $412 million from long positions.
- Bitcoin accounted for $353 million and Ethereum for $182 million in liquidations.
