BTC and ETH rates rise led to the liquidation of $160 million in short positions

The total amount of traders’ losses for the day amounted to $399,45 million

18.07.2022 - 13:05

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What’s new? As a result of bitcoin and Ethereum rates’ rise short positions totaling more than $160 million have been liquidated in the past 24 hours, according to CryptoPotato. In just one day, a total of 87 247 traders have liquidated positions worth $399,45 million, according to analytics platform Coinglass. The largest liquidation was recorded on the FTX exchange, $2,83 million on the ETH-PERP contract.

News on the Cryptopotato website

Situation in the cryptocurrency market. Both top assets, bitcoin and Ethereum, have seen strong gains over the past seven days. According to cryptocurrency exchange Binance, BTC added 7,36% over the week, while ETH gained 28,54%. The cryptocurrency market capitalization rose from $0,967 trillion to $1,011 trillion. As of July 18, 12:50 UTC, bitcoin is trading at $22 096 (+3,15% per day) and Ethereum at $1474 (+8,67%).

In March 2022, traders lost more than $422 million due to bitcoin’s rise. On March 28, the BTC rate surpassed $47 600. The cryptocurrency’s rise of more than 8% resulted in the liquidation of $422,9 million in traders’ positions. The largest liquidation order was placed on BitMEX ($10 million). Around 80% of the liquidations came from short positions.

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