Liquidations reach $96M in half a day as Bitcoin breaks $21K – CryptoSlate

Liquidations reach $96M in half a day as Bitcoin breaks $21K – CryptoSlate

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Liquidations reach $96M in half a day as Bitcoin breaks $21K Liquidations reach $96M in half a day as Bitcoin breaks $21K Zeynep Geylan · 2 hours ago · 1 min read

Short positions compensated for 77% of the $96 million that got liquidated in the last 12 hours.

1 min read

Updated: September 9, 2022 at 5:41 pm

Liquidations reach $96M in half a day as Bitcoin breaks $21K

Cover art/illustration via CryptoSlate

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A total of $96 million worth of positions on Bitcoin got liquidated in the last 12 hours, 77% of which were short positions.

Bitcoin surge started at 3 a.m. UTC on Sept. 9, and has recorded a 10.5% increase since then. The price broke $20,000 in three hours and $21,000 in about 15 hours.

BTCUSD (via Tradingview)

The rally began at around $19,335 and increased up to $21,374. Bitcoin is trading at $21,220 at press time.

In the meantime, liquidations kept increasing in amount. According to Coinglass, a total of $96 million in positions on Bitcoin got liquidated in the last 12 hours. CryptoSlate analysts stated that 77% of the $96 million came from short positions.

Around $38 million got liquidated in the last four hours, which comprises 40% of the total $96 million. The numbers keep increasing rapidly as Bitcoin continues its surge.

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