Over $250 Million In Liquidations As Bitcoin Recovers Above $20,000

Liquidations have rocked the space as the price of Bitcoin has fluctuated between red and green in the last week. Since the price had been crashing for the major parts of last week, the liquidations have been heavily skewed towards long traders. This trend has now changed as short traders’ liquidations have ramped up in the past week owing to recovery above $20,000. Short Liquidations Ramp Up Coming out of the weekend, the price of bitcoin has been doing much better than it was during the weekdays. This has now turned the tide of liquidations towards the short traders. These sorts of positions had ramped up as the price of the digital asset had declined, causing some to believe that it was going to continue. However, the price of the cryptocurrency seems to have found its footing above $17,000 and had made a bounce-off from there. Related Reading | Bitcoin Bounces Back Before Hitting 2017 Peak, Is The Bottom In? As of the early hours of Monday, the price of bitcoin is resting in the mid-$20,000s. At the same time, liquidation volumes remain large in the market. The past 24 hours have seen more than $250 million liquidated in the market. At the same time, about 80,000 traders have lost their positions, the majority of whom have been short traders at 63.56%. Liquidations pass $260 million | Source: Coinglass About $100 million worth of bitcoin has been liquidated in the same time period, coming out to 4,800 BTC. ...