{"id":547885,"date":"2023-08-18T11:10:03","date_gmt":"2023-08-18T11:10:03","guid":{"rendered":"https:\/\/wncen.com\/?p=547885"},"modified":"2024-06-11T12:25:39","modified_gmt":"2024-06-11T12:25:39","slug":"bitcoin-liquidations-top-500-million","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-liquidations-top-500-million\/","title":{"rendered":"Bitcoin Liquidations Top $500 Million Amid $1 Billion Crypto Decimation"},"content":{"rendered":"

Bitcoin liquidations have been ramping up over the last day following the market crash<\/a> that rocked the crypto space on Thursday. The result of this is a liquidation event, the likes of which have not been seen since the FTX collapse back in 2022. And Bitcoin\u2019s numbers have shot up as long traders are completely obliterated in the process.<\/p>\n

Largest Single Crypto Liquidation Event In 2023<\/h2>\n

Following Bitcoin\u2019s price decline to the low $25,000s, the liquidations<\/a> picked up quickly with over $1 billion dollars of crypto positions being closed rapidly. Bitcoin, in particular, suffered the brunt of these liquidations as its numbers quickly climbed to 9 digits.<\/p>\n

Related Reading: Why Is Dogecoin Price Down Today?<\/a><\/div>\n

By the time Friday morning rolled around, the digital asset\u2019s liquidation was at approximately $500 million with long traders suffering the majority of losses. According to data from Coinglass<\/a>, Bitcoin’s long liquidation figures were already over $373 million, with shorts coming in at $125 million.<\/p>\n

\"Bitcoin<\/p>\n

BTC liquidations almost at $500 million | Source: Coinglass<\/a><\/pre>\n
While Bitcoin was in the lead as expected, Ethereum was not that far behind<\/a>. The second-largest cryptocurrency by market cap saw an even larger proportion of long liquidations compared to shorts. Out of the $308 million in liquidations, long traders lost $254.59 million while short traders came in at $54.3 million.<\/p>\n
Ethereum also saw the largest single liquidation order. The order which was worth $55.92 million at the time took place on the Binance crypto exchange across the ETH\/BUSD pair. However, the OKX exchange saw the largest Ethereum liquidations at $108.87 million, 92.8% of which were longs.<\/p>\n
The Tide Is Starting To Turn For Bitcoin<\/h2>\n
Following the initial plummet, Bitcoin began to show strength which saw its price add over $1,000. This recovery to $26,000 signaled a possible turn for the digital assets and the shorters began to feel the heat at this point.<\/p>\n
In the last four hours, long traders have gotten some reprieve as $8.53 million of the $10.96 million in liquidations so far were short trades. However, long traders are still not left out with $2.46 million in liquidations as well.<\/p>\n
Related Reading: Can Ethereum Price Cross $2,000 Before The End Of August?<\/a><\/div>\n
Since the Bitcoin price remains extremely volatile at this point, liquidation volumes<\/a> are expected to rise. However, there is no indication so far of where the price of the digital asset might be headed next as bulls and bears continue a tug-of-war for control.<\/p>\n
Bitcoin is currently trading at a price of 26,451, representing a price decline of 7.48% over the last day, according to data from Coinmarketcap. The asset has also seen a 110% increase in daily trading volume which is now sitting at $34.47 billion.<\/p>\n
\"Bitcoin<\/p>\n
BTC price falls from $29,000 to $25,000 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin liquidations have been ramping up over the last day following the market crash that rocked the crypto space on Thursday. The result of this is a liquidation event, the likes of which have not been seen since the FTX collapse back in 2022. And Bitcoin\u2019s numbers have shot up as long traders are completely obliterated in the process. Largest Single Crypto Liquidation Event In 2023 Following Bitcoin\u2019s price decline to the low $25,000s, the liquidations picked up quickly with over $1 billion dollars of crypto positions being closed rapidly. Bitcoin, in particular, suffered the brunt of these liquidations as its numbers quickly climbed to 9 digits. Related Reading: Why Is Dogecoin Price Down Today? By the time Friday morning rolled around, the digital asset\u2019s liquidation was at approximately $500 million with long traders suffering the majority of losses. According to data from Coinglass, Bitcoin’s long liquidation figures were already over $373 million, with shorts coming in at $125 million. BTC liquidations almost at $500 million | Source: Coinglass While Bitcoin was in the lead as expected, Ethereum was not that far behind. The second-largest cryptocurrency by market cap saw an even larger proportion of long liquidations compared to shorts. Out of the $308 million in liquidations, long traders lost $254.59 million while short traders came in at $54.3 million. Ethereum also saw the largest single liquidation order. The order which was worth $55.92 million at the time took place on the Binance crypto exchange across the ETH\/BUSD pair. However, the OKX exchange saw the largest Ethereum liquidations at $108.87 million, 92.8% of which were longs. The Tide Is Starting To Turn For Bitcoin Following the initial plummet, Bitcoin began to show strength which saw its price add over $1,000. This recovery to $26,000 signaled a possible turn for the digital assets and the shorters began to feel the heat at this point. In the last four hours, long traders have gotten some reprieve as $8.53 million of the $10.96 million in liquidations so far were short trades. However, long traders are still not left out with $2.46 million in liquidations as well. Related Reading: Can Ethereum Price Cross $2,000 Before The End Of August? Since the Bitcoin price remains extremely volatile at this point, liquidation volumes are expected to rise. However, there is no indication so far of where the price of the digital asset might be headed next as bulls and bears continue a tug-of-war for control. Bitcoin is currently trading at a price of 26,451, representing a price decline of 7.48% over the last day, according to data from Coinmarketcap. The asset has also seen a 110% increase in daily trading volume which is now sitting at $34.47 billion. BTC price falls from $29,000 to $25,000 | Source: BTCUSD on TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":547902,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84332,656,679,1119,1144,78790,85078],"class_list":["post-547885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-liquidations","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-liquidations"],"acf":[],"yoast_head":"\nBitcoin Liquidations Top $500 Million Amid $1 Billion Crypto Decimation<\/title>\n<meta name=\"description\" content=\"Bitcoin liquidations have been ramping up 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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":"Bitcoin Liquidations Top $500 Million Amid $1 Billion Crypto Decimation","url":"http:\/\/wncen.com\/news\/bitcoin-liquidations-top-500-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-liquidations-top-500-million\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-1212035447.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-1212035447.jpg?fit=2000%2C1498"},"articleSection":"Cryptocurrency Market News","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","bitcoin news","bitcoin price","btc","btcusd","btcusdt","liquidations"],"dateCreated":"2023-08-18T11:10:03Z","datePublished":"2023-08-18T11:10:03Z","dateModified":"2024-06-11T12:25:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Liquidations Top $500 Million Amid $1 Billion Crypto Decimation\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-liquidations-top-500-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-liquidations-top-500-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1212035447.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1212035447.jpg?fit=2000%2C1498\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\",\"liquidations\"],\"dateCreated\":\"2023-08-18T11:10:03Z\",\"datePublished\":\"2023-08-18T11:10:03Z\",\"dateModified\":\"2024-06-11T12:25:39Z\"}<\/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\/2023\/08\/iStock-1212035447.jpg?fit=2000%2C1498","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/547885"}],"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=547885"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/547885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/547902"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=547885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=547885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=547885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}