{"id":495184,"date":"2022-07-08T17:00:28","date_gmt":"2022-07-08T17:00:28","guid":{"rendered":"https:\/\/wncen.com\/?p=495184"},"modified":"2024-06-11T14:21:24","modified_gmt":"2024-06-11T14:21:24","slug":"crypto-traders-lose-280-million-following-bitcoin-break-above-22000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-traders-lose-280-million-following-bitcoin-break-above-22000\/","title":{"rendered":"Crypto Traders Lose $280 Million Following Bitcoin\u2019s Break Above $22,000"},"content":{"rendered":"

As the week draws to a close, there have been some interesting turns in the price of bitcoin. The digital asset which had been struggling to hold the $20,000 had finally broken out of this funk and was able to make a rally to the mid $22,000s. This rally had naturally led to liquidations in the market and as time goes on, these liquidations ramped up with the volatility that has followed this price recovery.<\/p>\n

More Than 65,000 Traders Rekt<\/h2>\n

As of Friday morning, data from Coinglass<\/a> shows that more than 65,000 traders have been liquidated over the last 24 hours. The liquidations had surged following the quick recovery of bitcoin above $20,000 and by the end of the day, it had added over $2,000 to its value. Traders were quickly caught off guard and millions of dollars in short positions were liquidated.<\/p>\n

Related Reading |\u00a0Bitcoin Funding Rates Are Climbing As Price Continues To Struggle<\/a><\/strong><\/em><\/p>\n

In total, there have been more than $280 million in liquidations over the last day and they continue to grow. The majority has come out to be shorts with $214.74 million in the last day. However, long traders have not been spared the onslaught with $67.35 million in the same time period. The reason for the long liquidations is that the digital asset had peaked in the mid-$22,000s and has lost about $1,000 since then.<\/p>\n

\"Bitcoin<\/p>\n

BTC declines to low $21,000 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Bitcoin traders are naturally bearing the brunt of the liquidations. Data shows that the past day has seen 6,320 BTC lost. This translates to $135.69 million, with the largest single liquidation event being on the BTC-USD pair at a total of $3.86 million on the Huobi crypto exchange.<\/p>\n
Altcoins Follow Bitcoin Lead<\/h2>\n
Altcoins have maintained a close following with bitcoin when it comes to the liquidation trends. Altcoins such as Ethereum have seen tens of millions of dollars liquidated in the past day. ETH\u2019s numbers have come out to a total of 69,110 ETH, coming out to a dollar value of $84.15 million.<\/p>\n
Related Reading |\u00a0Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000<\/a><\/strong><\/em><\/p>\n
Others that have seen large liquidations include Solana (SOL) which has been making a splash in the NFT space lately. The Ethereum competitor had seen a total of $4.14 million liquidated coming out to a combined 111,970 SOL.<\/p>\n
Others such as GMT, AVAX, and CRV have all recorded above $3 million. While MATIC, XRP, and SAND have seen liquidations of $2.85 million, $2.45 million, and $2.17 million respectively.\u00a0<\/span><\/p>\n
About half of the liquidations have been recorded in the last 24 hours alone with $137.96 in total liquidations. Shorts continue to make up a larger portion of the liquidations but with the price of bitcoin in a current downturn, long liquidations are ramping up.<\/p>\n
Featured image from MARCA, charts from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
As the week draws to a close, there have been some interesting turns in the price of bitcoin. The digital asset which had been struggling to hold the $20,000 had finally broken out of this funk and was able to make a rally to the mid $22,000s. This rally had naturally led to liquidations in the market and as time goes on, these liquidations ramped up with the volatility that has followed this price recovery. More Than 65,000 Traders Rekt As of Friday morning, data from Coinglass shows that more than 65,000 traders have been liquidated over the last 24 hours. The liquidations had surged following the quick recovery of bitcoin above $20,000 and by the end of the day, it had added over $2,000 to its value. Traders were quickly caught off guard and millions of dollars in short positions were liquidated. Related Reading |\u00a0Bitcoin Funding Rates Are Climbing As Price Continues To Struggle In total, there have been more than $280 million in liquidations over the last day and they continue to grow. The majority has come out to be shorts with $214.74 million in the last day. However, long traders have not been spared the onslaught with $67.35 million in the same time period. The reason for the long liquidations is that the digital asset had peaked in the mid-$22,000s and has lost about $1,000 since then. BTC declines to low $21,000 | Source: BTCUSD on TradingView.com Bitcoin traders are naturally bearing the brunt of the liquidations. Data shows that the past day has seen 6,320 BTC lost. This translates to $135.69 million, with the largest single liquidation event being on the BTC-USD pair at a total of $3.86 million on the Huobi crypto exchange. Altcoins Follow Bitcoin Lead Altcoins have maintained a close following with bitcoin when it comes to the liquidation trends. Altcoins such as Ethereum have seen tens of millions of dollars liquidated in the past day. ETH\u2019s numbers have come out to a total of 69,110 ETH, coming out to a dollar value of $84.15 million. Related Reading |\u00a0Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000 Others that have seen large liquidations include Solana (SOL) which has been making a splash in the NFT space lately. The Ethereum competitor had seen a total of $4.14 million liquidated coming out to a combined 111,970 SOL. Others such as GMT, AVAX, and CRV have all recorded above $3 million. While MATIC, XRP, and SAND have seen liquidations of $2.85 million, $2.45 million, and $2.17 million respectively.\u00a0 About half of the liquidations have been recorded in the last 24 hours alone with $137.96 in total liquidations. Shorts continue to make up a larger portion of the liquidations but with the price of bitcoin in a current downturn, long liquidations are ramping up. Featured image from MARCA, charts from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":495187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85876,5651,3],"tags":[428,84332,1119,1144,78790,85578,10923,85840],"class_list":["post-495184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-liquidations","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto-liquidations","tag-crypto-market","tag-market-liquidations"],"acf":[],"yoast_head":"\nCrypto Traders Lose $280 Million Following Bitcoin\u2019s Break Above $22,000<\/title>\n<meta name=\"description\" content=\"As the week draws to a close, there have been some interesting turns in the price of bitcoin. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Traders Lose $280 Million Following Bitcoin\u2019s Break Above $22,000","url":"http:\/\/wncen.com\/news\/crypto-traders-lose-280-million-following-bitcoin-break-above-22000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-traders-lose-280-million-following-bitcoin-break-above-22000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-4.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-4.jpeg?fit=1320%2C744"},"articleSection":"Altcoin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin liquidations","btc","btcusd","btcusdt","crypto liquidations","crypto market","market liquidations"],"dateCreated":"2022-07-08T17:00:28Z","datePublished":"2022-07-08T17:00:28Z","dateModified":"2024-06-11T14:21:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Traders Lose $280 Million Following Bitcoin\\u2019s Break Above $22,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-traders-lose-280-million-following-bitcoin-break-above-22000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-traders-lose-280-million-following-bitcoin-break-above-22000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Bitcoin-4.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Bitcoin-4.jpeg?fit=1320%2C744\"},\"articleSection\":\"Altcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin liquidations\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto liquidations\",\"crypto market\",\"market liquidations\"],\"dateCreated\":\"2022-07-08T17:00:28Z\",\"datePublished\":\"2022-07-08T17:00:28Z\",\"dateModified\":\"2024-06-11T14:21:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-4.jpeg?fit=1320%2C744","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/495184"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=495184"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/495184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/495187"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=495184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=495184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=495184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}