According to the latest statistics, over $ 134 million has been traded in liquid margin markets in the last 12 hours, 88% of which are shorts (sales). The elimination of these downward trends is due to the sudden jump in the price of bitcoin and other digital currencies today.
According to Kevin Desk, with the jump in digital currency prices from support levels yesterday, in the last 12 hours, the trading position of liquid shorts has become over 116 million dollars.
Data from the analytical website Coinglass shows that approximately 88% of traders who relied on lower prices for digital currencies lost positions after losing their initial margin and closing their positions to trade in leverage on exchanges.
The data show that the digital currency exchange OKX recorded a loss of about $ 54 million due to the liquidation of short positions, which is the largest loss among all exchange offices. Next is Bainance with $ 24 million and Baybite with $ 12 million.
Also, about $ 70 million in bitcoin futures have been liquidated in the last 12 hours, the highest value among major digital currencies. Atrium futures lost $ 28 million, followed by LUNA with $ 10 million.
Confidential digital currencies, known as Privacy Coins, also have an unusual trend during this period. Futures data for Monroe and Zcash show that each has had about $ 1 million in liquidated trading positions in the last 24 hours, as the prices of these two digital currencies have risen by almost 25% in the last 24 hours. This jump is far from the growth of the total value of the digital currency market, which was about 6% during this period.
Bitcoin, which traded nearly $ 38,000 on Tuesday, managed to reach over $ 42,000 today. The reason for the jump in the price of bitcoin and the digital currency market is the leak of some details from the executive order of US President Joe Biden on digital currencies, in which he apparently announced that he would “support innovation in this area, accompanied by responsibility “Biden is expected to sign the executive order on Wednesday.
Data show that losses from liquidated trade items amounted to 134 million dollars, affecting approximately 48,412 accounts.
With the rise of bitcoin and digital currencies, $ 116 million turned into liquid liquid shorts first appeared in digital currency.