Binance saw almost half of the $114M liquidations in the past 24 hours – CryptoSlate
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The global crypto market cap is $1.34 trillion with a 24-hour volume of $44.82 billion. The price of Bitcoin is $35,435.56 and BTC market dominance is 51.7%. The price of Ethereum is $1,886.66 and ETH market dominance is 16.9%. The best performing cryptoasset sector is eCommerce, which gained 16%.
Binance at the eye of the storm as Bitcoin wrestles with $35,000 mark, triggering significant liquidations
Bitcoin has been struggling to regain the $35,000 price level over the weekend, causing a wave of liquidations in the crypto market.
In the past 24 hours, the crypto market witnessed approximately $114 million in liquidations — $66 million on the long side and $48 million on the short side.
Nearly half of the total liquidations — approximately $50 million — took place on Binance. Bitcoin bore the brunt of these liquidations, with over $30 million liquidated, indicating a strong market response to the price fluctuations.
An examination of the liquidation heatmap from Nov. 5 presents an interesting trend: a significant amount of leverage congregated around the $34,400 mark. As Bitcoin touched this level, it resulted in a surge of long liquidations.
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.
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