Crypto Liquidations Drop Over 80% Amid Market Consolidation

Cryptocurrency liquidations plummeted by 80.26% as the market consolidates, characterized by low volatility and neutral sentiment.

Data from Coinglass reveals that total crypto liquidations currently amount to $42.4 million over the past 24 hours, indicating minimal market fluctuations.

Key insights include:

• Long positions: Approximately $23.8 million
• Short positions: $18.5 million
• Ethereum (ETH): Leading with $9 million in liquidations ($3.5 million in longs, $5.5 million in shorts)
• Notcoin (NOT): Securing third place with $3.9 million, following a range of small-cap assets
• Bitcoin (BTC): Fourth at $3.25 million ($2.44 million in long liquidations)

Binance, the largest crypto exchange by trading volume, accounts for nearly $20 million of these liquidations, representing almost half of the total. Seychelles-based OKX holds the second position with $13 million in liquidations, capturing 30.7% of the global total.

Total cryptocurrency open interest saw a slight uptick of 0.2%, reaching $66.3 billion. Meanwhile, the global crypto market capitalization stands at approximately $2.54 trillion, according to CoinGecko.

Both Bitcoin and Ethereum have remained stable, consolidating around $66,000 and $3,500 respectively over the past 24 hours, reflecting the market’s neutral stance.

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