{"id":507916,"date":"2022-10-26T13:30:53","date_gmt":"2022-10-26T13:30:53","guid":{"rendered":"https:\/\/wncen.com\/?p=507916"},"modified":"2024-06-11T07:51:50","modified_gmt":"2024-06-11T07:51:50","slug":"bitcoin-break-above-20000-sees-market-liquidations-cross-1-billion","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-break-above-20000-sees-market-liquidations-cross-1-billion\/","title":{"rendered":"Bitcoin\u2019s Break Above $20,000 Sees Market Liquidations Cross $1 Billion"},"content":{"rendered":"

Tuesday has proven to be a good day for bitcoin and the crypto market in its entirety as gains have been the order of the day. Bitcoin has finally been able to clear the $20,000 territory even when indicators pointed towards the more sluggish movement for the digital asset. As expected, there have been ripple events from the gains in the market. Liquidations are now the order of the day and short traders are getting the \u2018short\u2019 end of the stick.<\/p>\n

Crypto Liquidations Cross $1 Billion<\/h2>\n

The crypto market has now recorded its worse liquidation trend so far in 2022. Bitcoin\u2019s recovery above $20,000 was swift and the liquidations were just as fast. The result of this is more than $1 billion being liquidated across the crypto market in the last 24 hours.<\/p>\n

Given the recovery, short traders have suffered the worst of it. Data from Coinglass<\/a> shows that over 87% of all liquidations recorded in the past day have been from short traders. This means that short traders have lost more than $700 million in a single day.<\/p>\n

Related Reading: Total LUNC Burned Crosses 24 Billion, But Is It Enough?<\/a><\/div>\n

Amid this, FTX exchange recorded the largest liquidation event in history with more than $700 million liquidated on the crypto exchange. This puts the majority of the market liquidations on FTX (74.7%) with all other exchanges making up about 25% of the remaining figure.<\/p>\n

\"Bitcoin<\/p>\n

24-hour liquidations cross $1.1 billion | Source: Coinglass<\/a><\/pre>\n
Approximately 156,000 traders were caught in the crossfire of this bloody trading day. The largest single liquidation was recorded on the Okex – ETH-USDT-SWAP pair for a total of $3.05 million. Total market liquidation values now sit at $1.12 billion at the time of this writing.<\/p>\n
Bitcoin Gearing Up For More<\/h2>\n
Bitcoin has landed in the mid-$20,000s after the current rally but the digital asset does not seem to be done yet. The recovery put it firmly above its 50-day moving average, which cements its short-term bull trend.<\/p>\n
Additionally, the correlation with the stock market remains high and bitcoin is bound to follow the performance of its largest counterpart. If the current positive sentiment across the financial market continues, then it is possible that BTC would test the $21,000 resistance before the close of the trading day on Wednesday.<\/p>\n
\"Bitcoin<\/p>\n
BTC price at $20,600 | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
High inflation rates across the world are also triggering investors\u2019 move to bitcoin. Forecasts have put countries around the world at even higher inflation rates going into the end of the year, which could paint a bull picture for cryptocurrencies going forward.<\/p>\n
Related Reading: Crypto Market Drops To Extreme Fear As Bitcoin Struggles To Hold $19,000<\/a><\/div>\n
BTC is currently trading at $20,600 at the time of this writing. It is up 6.98% in the last 24 hours and has a current market cap of 396 billion. It has also seen $61.7 billion in trading volume, a 136% increase in the last day.<\/p>\n
Featured image from ITPro Today, chart 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":"
Tuesday has proven to be a good day for bitcoin and the crypto market in its entirety as gains have been the order of the day. Bitcoin has finally been able to clear the $20,000 territory even when indicators pointed towards the more sluggish movement for the digital asset. As expected, there have been ripple events from the gains in the market. Liquidations are now the order of the day and short traders are getting the \u2018short\u2019 end of the stick. Crypto Liquidations Cross $1 Billion The crypto market has now recorded its worse liquidation trend so far in 2022. Bitcoin\u2019s recovery above $20,000 was swift and the liquidations were just as fast. The result of this is more than $1 billion being liquidated across the crypto market in the last 24 hours. Given the recovery, short traders have suffered the worst of it. Data from Coinglass shows that over 87% of all liquidations recorded in the past day have been from short traders. This means that short traders have lost more than $700 million in a single day. Related Reading: Total LUNC Burned Crosses 24 Billion, But Is It Enough? Amid this, FTX exchange recorded the largest liquidation event in history with more than $700 million liquidated on the crypto exchange. This puts the majority of the market liquidations on FTX (74.7%) with all other exchanges making up about 25% of the remaining figure. 24-hour liquidations cross $1.1 billion | Source: Coinglass Approximately 156,000 traders were caught in the crossfire of this bloody trading day. The largest single liquidation was recorded on the Okex – ETH-USDT-SWAP pair for a total of $3.05 million. Total market liquidation values now sit at $1.12 billion at the time of this writing. Bitcoin Gearing Up For More Bitcoin has landed in the mid-$20,000s after the current rally but the digital asset does not seem to be done yet. The recovery put it firmly above its 50-day moving average, which cements its short-term bull trend. Additionally, the correlation with the stock market remains high and bitcoin is bound to follow the performance of its largest counterpart. If the current positive sentiment across the financial market continues, then it is possible that BTC would test the $21,000 resistance before the close of the trading day on Wednesday. BTC price at $20,600 | Source: BTCUSD on TradingView.com High inflation rates across the world are also triggering investors\u2019 move to bitcoin. Forecasts have put countries around the world at even higher inflation rates going into the end of the year, which could paint a bull picture for cryptocurrencies going forward. Related Reading: Crypto Market Drops To Extreme Fear As Bitcoin Struggles To Hold $19,000 BTC is currently trading at $20,600 at the time of this writing. It is up 6.98% in the last 24 hours and has a current market cap of 396 billion. It has also seen $61.7 billion in trading volume, a 136% increase in the last day. Featured image from ITPro Today, chart 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":507923,"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":[428,84332,1119,1144,78790,6664,12292,85578,86447,37455,1557,85078],"class_list":["post-507916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-liquidations","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-exchanges","tag-crypto-liquidations","tag-crypto-market-liquidations","tag-crypto-traders","tag-cryptocurrencies","tag-liquidations"],"acf":[],"yoast_head":"\nBitcoin\u2019s Break Above $20,000 Sees Market Liquidations Cross $1 Billion<\/title>\n<meta name=\"description\" content=\"Tuesday has proven to be a good day for bitcoin and the crypto market in its entirety as gains have been the order of the day. 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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":"Bitcoin\u2019s Break Above $20,000 Sees Market Liquidations Cross $1 Billion","url":"http:\/\/wncen.com\/news\/bitcoin-break-above-20000-sees-market-liquidations-cross-1-billion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-break-above-20000-sees-market-liquidations-cross-1-billion\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-4.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-4.jpeg?fit=1540%2C800"},"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","btc","btcusd","btcusdt","crypto","crypto exchanges","crypto liquidations","crypto market liquidations","crypto traders","cryptocurrencies","liquidations"],"dateCreated":"2022-10-26T13:30:53Z","datePublished":"2022-10-26T13:30:53Z","dateModified":"2024-06-11T07:51:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin\\u2019s Break Above $20,000 Sees Market Liquidations Cross $1 Billion\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-break-above-20000-sees-market-liquidations-cross-1-billion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-break-above-20000-sees-market-liquidations-cross-1-billion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Bitcoin-4.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Bitcoin-4.jpeg?fit=1540%2C800\"},\"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\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto exchanges\",\"crypto liquidations\",\"crypto market liquidations\",\"crypto traders\",\"cryptocurrencies\",\"liquidations\"],\"dateCreated\":\"2022-10-26T13:30:53Z\",\"datePublished\":\"2022-10-26T13:30:53Z\",\"dateModified\":\"2024-06-11T07:51:50Z\"}<\/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\/10\/Bitcoin-4.jpeg?fit=1540%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/507916","targetHints":{"allow":["GET"]}}],"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=507916"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/507916\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/507923"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=507916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=507916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=507916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}