A new round of military conflict broke out between Israel and Palestine disrupted the global financial market, prompting investors to turn to safe-haven assets. The cryptocurrency market fell under pressure. Bitcoin once fell by more than 2%, and the derivatives market exploded with more than 100 million US dollars. There was a wave of liquidations, with 90% of the liquidations coming from long positions.
According to CoinGecko data, Bitcoin dropped to a low of $27,354 in the early morning, but had rebounded to $27,628 as of press time, a 24-hour drop of approximately 1.2%.
At the same time, other cryptocurrencies fell, with Ethereum (ETH) down 3.2% to around $1,581; Binance Coin (BNB) down 2.5% to around $206.68; Ripple (XRP) down 3.7% to around $206.68; About $0.499; Solana (SOL) and Polygon (MATIC) both fell more than 5%.
Detonating $114 million in position liquidation
According to data from CoinGlass, the cryptocurrency derivatives market has suffered approximately $114 million in liquidations in the past 24 hours, of which up to 90% of long positions worth approximately $103 million have been liquidated, setting the highest long liquidation in the past month. quantity.
The large number of liquidations shows that the sharp decline in the cryptocurrency market has caught large numbers of investors off guard. In total, more than 42,727 cryptocurrency traders were liquidated in the past 24 hours, according to Coinglass.
Among them, Ethereum traders suffered the heaviest losses, with approximately $32.52 million in positions liquidated; Bitcoin positions also saw more than $18.99 million in liquidations; in addition, Bitcoin Cash (BCH) and Ripple (XRP) liquidated The amount also exceeds US$3 million.
Source: CoinGlass
This article The Israeli-Palestinian conflict heats up: The cryptocurrency market fell under pressure, and US$100 million in long positions were liquidated. First appeared on Blockchain.
