- As the price of Bitcoin and Ethereum increased, the crypto market faced a mass liquidation of over $654.22 million.
- Bitcoin saw liquidations totaling $321.73 million as its price surged over 6%, crossing $94,000 on April 23.
The crypto market saw mass liquidations over the past 24 hours, totaling $654.22 million. Around 172,659 traders were wiped out — mostly from short positions — highlighting growing pressure on bullish sentiment.
The largest cryptocurrency, Bitcoin (BTC) liquidated $321.73 million as its price gained more than 6% and went over $94,000 on April 23. In the past 24 hours, around 7,023 BTC were bought and around 72,637 BTC were sold, as per the data from Cryptometer.io.
The second position with the highest liquidation is captured by Ethereum, marking $134.30 million. The price of Ethereum also rebounded today by skyrocketing 10% and hovering around $1,700.
In the last 4 hours as well as 24 hours, Bybit is accountable for the largest portion of liquidations, standing at $14.77 million and $267.45 million respectively. After Bybit, Binance holds the second position, having liquidated nearly $131.59 million.
Long-term Term Whales Cashing Out, Following The Recent Spike
After the recent spike, long-term whales are cashing out their digital assets swiftly.
The Blockchain Analytics Platform, Lookonchain, reported on X that a whale borrowed 15,000 ETH from Aave to sell and then withdrew all 35,754 ETH and then dumped it at an average price of $1,794 in the last 3 hours.
Another post of the platform mentioned that after the surge in the price of BTC, 2 wallets shorted BTC with 6x leverage at $92,469.1 and $92,664.8.
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