Bitcoin (BTC) Rally Preys On Futures: Massive Liquidation!

With the recent rise of #Bitcoin. (BTC), $154 million in short positions were liquidated in the last 24 hours

With the recent rise of Bitcoin (BTC), $154 million worth of short positions were liquidated in the last 24 hours.

Leading cryptocurrency Bitcoin marked the day with a striking rise. BTC price increased by 4 percent during the day. With this rise, BTC rose from the $ 35,200 band to $ 36,850. With BTC rising, the crypto market has turned green again. Strong increases were observed in many altcoins.

The rise of BTC and accompanying altcoins shook the futures market. Another major liquidation data has come to the fore.

Bitcoin (BTC) is up 4 percent in the last 24 hours. Before the rise, there were prevailing thoughts that the crypto market would now fall. Especially in futures transactions, the number of short (decline) transactions increased. BTC's surprise rise liquidated $154 million in short positions in the last 24 hours. The total liquidation amount reached 188 million dollars.

According to data obtained from Coinglass, $154 million of the liquidations in the last 24 hours were in short transactions. The liquidation amount in long (bullish) transactions exceeded 34 million dollars.

According to Coinglass's heat map, liquidations in BTC transactions exceeded $93 million, while liquidations in ETH reached $20 million.

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