From December 25 to 26, the liquidation volume of the cryptocurrency market exceeded $166 million.
According to CoinGlass, altcoins account for a significant portion of the losses. As of this writing, daily liquidation volume is $166.2 million, with long positions prevailing.
In addition to the traditional Bitcoin (BTC) and Ethereum (ETH), trading pairs with Solana (SOL) and ORDI are leading in terms of loss volume.
The most significant liquidations occurred on the Binance, OKX and Bybit exchanges. Like the market, more than 60% of these positions are primarily long positions.
The falling BTC exchange rate led to a series of liquidations. The cryptocurrency fell 2% to $42,750.
In 2023, Bitcoin surpassed global stock markets and almost all other asset classes, including gold, in its growth dynamics.
BTC growth this year is 163% in 2023.
With interest rates falling imminent, US regulatory pressure easing, and the US Securities and Exchange Commission (SEC) expected to approve a Bitcoin ETF, analysts expect cryptocurrency assets to continue growing in 2024. .