Daily volume of crypto liquidations nears $140 million.
Between February 13 and February 14, 2024, the cryptocurrency market experienced significant liquidations amounting to nearly $140 million. According to CoinGlass, a total of 45,965 traders had their positions liquidated within the past 24 hours. Long positions resulted in losses of approximately $91 million, while short positions accounted for nearly $49 million in losses.
The majority of these liquidations took place in trading pairs involving Bitcoin (BTC) and Ethereum (ETH), with losses amounting to $42.06 million and $35.55 million, respectively. The largest liquidation, totaling $4.69 million, occurred on the popular crypto exchange, Binance. Additionally, Binance led in terms of daily closed positions by traders, amounting to almost $70 million.
The price fluctuations of Bitcoin throughout the day were influenced by inflation data coming from the United States. The U.S. Department of Labor reported that the consumer price index (CPI) for January 2024 showed an annual increase of 3.1%, surpassing experts’ expectations of 2.9%.
Following the release of this inflation data, the Bitcoin rate experienced a decline, with the asset’s value dropping to $48,400. As of now, the leading cryptocurrency is trading around $49,640. Furthermore, trading volumes decreased by 13% to $33.9 billion.
In the top 10 cryptocurrencies in terms of market capitalization, all coins, excluding stablecoins, displayed negative performance within the past 24 hours.
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