In the cryptocurrency market, $293.55 million in leveraged positions were liquidated within 24 hours.

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In the past 24 hours, approximately $293.55 million worth of leveraged positions in the cryptocurrency market have been liquidated.

According to current aggregated data, among the liquidated positions, Bitcoin (BTC) accounts for $145.21 million, making up 49.5% of the total, the largest liquidation volume. Ethereum (ETH) is second with $96.99 million (33.0%).

Cryptocurrency Liquidation Data / CoinGlass

On a 4-hour basis, Bitcoin saw about $3.15 million in liquidations, with long positions totaling $1.96 million, accounting for 62.2%. Analysts believe this was caused by Bitcoin’s price fluctuating around $63,273, leading leveraged traders’ positions to be liquidated.

Solana (SOL) experienced $18.85 million in liquidations over 24 hours, with $634,000 liquidated in the 4-hour window. At the current price of $76.8, long positions amount to $531,080, making up 83.8% of all liquidations, indicating concentrated losses among investors betting on a rise that failed.

4-hour Exchange Liquidation Data / CoinGlass

XRP saw $187,360 in liquidations over 4 hours, with long positions totaling $173,530 (92.6%), overwhelmingly dominant. At the current price of $1.3311, market expectations for a rise remain high.

Dogecoin (DOGE) experienced $162,890 in liquidations, with $159,140 in long positions (97.7%), showing an almost one-sided liquidation of longs. The current price is $0.09141.

Notably, PIPPIN tokens saw a total of $3.99 million in liquidations over 4 hours, with short positions totaling $3.67 million (91.9%), indicating a large number of short positions being liquidated due to an unexpected price increase. This presents the most unique liquidation pattern among all cryptocurrencies.

ASTER tokens also experienced $207,600 in liquidations, mostly concentrated in long positions (96.7%). Conversely, gold-related tokens PAXG and XAU saw more short position liquidations, indicating upward trends.

ESP saw $11.29 million in liquidations over 24 hours, marking a significant liquidation scale among major altcoins.

In the cryptocurrency market, “liquidation” refers to the forced closing of traders’ leveraged positions when they fail to meet margin requirements. This liquidation data indicates that while large positions centered on Bitcoin and Ethereum are being liquidated, volatility in smaller altcoins is also expanding.

Article summary by TokenPost.ai

🔎 Market Analysis

In the past 24 hours, about $293.55 million has been liquidated, with Bitcoin and Ethereum accounting for 82.5% of all liquidations. Notably, in most mainstream coins, long position liquidations dominate, while PIPPIN tokens experienced a large-scale $3.67 million short liquidation, suggesting a sharp price increase. Bitcoin fluctuated around $63,000, and over-leveraged positions are being cleared.

💡 Strategy Highlights

The current market appears to be in a correction phase dominated by long position liquidations. Short-term support levels may be around $63,000 for Bitcoin and $76 for Solana. Excessive leverage increases liquidation risk, so reducing leverage or adopting spot-focused strategies during high volatility is safer. The sharp short liquidations in small altcoins like PIPPIN indicate potential short-term surges but come with high risk and should be approached cautiously.

📘 Terminology Explanation

Liquidation: The forced closing of a trader’s position by an exchange due to insufficient margin. Long liquidations occur when prices fall; short liquidations happen when prices rise.

Long Position: A position bought with the expectation that the price will rise.

Short Position: A position sold with the expectation that the price will fall.

Leverage: A multiple that allows trading larger than one’s own capital. It amplifies both gains and losses.

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This article summary is generated based on the TokenPost.ai language model. The main content of the original text may be omitted or may not be entirely accurate.