Update: A further $90 million was liquidated since press time, bringing the total liquidations to $623 million over the past 24 hours. $67 million longs and $23 shorts were liquidated in the past hour.
The market has weathered $542 million in Bitcoin and crypto liquidations over the past 24 hours as Bitcoin fell below $64,000 for the first time in roughly two weeks. On March 6, Bitcoin wicked down below the mark before continuing upward to record new all-time highs repeatedly.
Most liquidations were longs at $454 million, with just $87 million in short liquidations. Bitcoin made up $156 million of the total liquidations, as of press time.
Over the last 30 days, liquidations have seen an uptick for both longs and shorts. The chart below shows the daily liquidation volumes for the market as a whole since September.
Across major crypto exchanges, there has been a surplus of short leverage in Bitcoin over the past 30 days. While the funding rate remains positive for now, this may change
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