{"id":658358,"date":"2024-12-07T06:30:18","date_gmt":"2024-12-07T06:30:18","guid":{"rendered":"https:\/\/ktsl888.com\/?p=658358"},"modified":"2024-12-06T17:24:43","modified_gmt":"2024-12-06T17:24:43","slug":"bitcoin-flash-crash-710-crypto-long-liquidations","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-flash-crash-710-crypto-long-liquidations\/","title":{"rendered":"Bitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations"},"content":{"rendered":"

Data shows the cryptocurrency derivatives market has suffered a massive amount of liquidations after the Bitcoin flash crash during the past 24 hours.<\/p>\n

Bitcoin Has Witnessed Significant Volatility During The Last Day<\/h2>\n

BTC has displayed some wild price action in the past day, with both a high of $103,500 and a low $90,500 occurring inside a narrow window. The move to the latter level, in particular, was so sharp that it could only be described as a flash crash<\/a>.<\/p>\n

Related Reading: Bitcoin Sets New ATH Above $104,000, Yet Investors Don\u2019t Want To Sell<\/a><\/div>\n

Below is a chart that shows how the asset’s recent trajectory has been like.<\/p>\n

\"Bitcoin
The price of the coin seems to have retraced its recent surge | Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\n

From the graph, it’s visible that the sharp red candle only lasted briefly, as the cryptocurrency was quick to rebound back to higher levels. After the recovery, the coin is trading at around $98,000, which means it’s still down around 5% since the top.<\/p>\n

In usual fashion, the other top digital assets have also followed BTC in this bearish price action, but the likes of Ethereum (ETH) and Solana (SOL) have proven to be more resilient as their prices are down just 2% during the past day.<\/p>\n

The latest market-wide volatility has meant that chaos has occurred over on the derivatives side of the cryptocurrency sector.<\/p>\n

Cryptocurrency Longs Have Just Witnessed A Liquidation Squeeze<\/h2>\n

According to data from CoinGlass<\/a>, the cryptocurrency derivatives market has suffered a large amount of liquidations<\/a> as assets across the sector have seen sharp price action.<\/p>\n

\"Bitcoin
Looks like the liquidations have leaned heavily towards long positions | Source: CoinGlass<\/a><\/figcaption><\/figure>\n

As displayed in the above table, cryptocurrency derivatives positions worth a whopping $893 million have found liquidation in the last 24 hours. A contract is said to be “liquidated” when the exchange forcibly shuts it down after it amasses losses of a certain degree.<\/p>\n

Almost $733 million of these liquidations have involved long contracts, which represents 82% of the total. This steep dominance of the longs is naturally a result of the net bearish action that Bitcoin and others have gone through.<\/p>\n

Related Reading: Bitcoin 30-Day Trader Profits Back In \u2018Healthy\u2019 Range, Is BTC Ready For $100,000?<\/a><\/div>\n

A Mass liquidation event like this latest one is popularly known as a “squeeze<\/a>.” Since longs made up for the majority of this squeeze, it would be called a long squeeze.<\/p>\n

The long squeeze that the derivatives sector has just suffered may perhaps have been the obvious conclusion to the red-hot market conditions that were developing in its lead-up. As CryptoQuant community analyst Maartunn has pointed out in an X post<\/a>, the Open Interest shot up alongside the Bitcoin surge.<\/p>\n

\"Bitcoin
The Open Interest registered a sharp positive increase during the rally | Source: @JA_Maartun on X<\/a><\/figcaption><\/figure>\n

Generally, whenever derivatives positions explode during a rally, it means that the surge is leverage-driven. Price moves of this type can unwind in a volatile manner.<\/p>\n

The Open Interest rose by more than 15% in the recent Bitcoin run, which is considered a very significant amount. When the price reversed its direction, all these leveraged longs were caught up in the squeeze, which only provided further fuel for the crash, explaining its particularly sharp nature.<\/p>\n

Featured image from Dall-E, CoinGlass.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Data shows the cryptocurrency derivatives market has suffered a massive amount of liquidations after the Bitcoin flash crash during the past 24 hours. Bitcoin Has Witnessed Significant Volatility During The Last Day BTC has displayed some wild price action in the past day, with both a high of $103,500 and a low $90,500 occurring inside a narrow window. The move to the latter level, in particular, was so sharp that it could only be described as a flash crash. Related Reading: Bitcoin Sets New ATH Above $104,000, Yet Investors Don\u2019t Want To Sell Below is a chart that shows how the asset’s recent trajectory has been like. From the graph, it’s visible that the sharp red candle only lasted briefly, as the cryptocurrency was quick to rebound back to higher levels. After the recovery, the coin is trading at around $98,000, which means it’s still down around 5% since the top. In usual fashion, the other top digital assets have also followed BTC in this bearish price action, but the likes of Ethereum (ETH) and Solana (SOL) have proven to be more resilient as their prices are down just 2% during the past day. The latest market-wide volatility has meant that chaos has occurred over on the derivatives side of the cryptocurrency sector. Cryptocurrency Longs Have Just Witnessed A Liquidation Squeeze According to data from CoinGlass, the cryptocurrency derivatives market has suffered a large amount of liquidations as assets across the sector have seen sharp price action. As displayed in the above table, cryptocurrency derivatives positions worth a whopping $893 million have found liquidation in the last 24 hours. A contract is said to be “liquidated” when the exchange forcibly shuts it down after it amasses losses of a certain degree. Almost $733 million of these liquidations have involved long contracts, which represents 82% of the total. This steep dominance of the longs is naturally a result of the net bearish action that Bitcoin and others have gone through. Related Reading: Bitcoin 30-Day Trader Profits Back In \u2018Healthy\u2019 Range, Is BTC Ready For $100,000? A Mass liquidation event like this latest one is popularly known as a “squeeze.” Since longs made up for the majority of this squeeze, it would be called a long squeeze. The long squeeze that the derivatives sector has just suffered may perhaps have been the obvious conclusion to the red-hot market conditions that were developing in its lead-up. As CryptoQuant community analyst Maartunn has pointed out in an X post, the Open Interest shot up alongside the Bitcoin surge. Generally, whenever derivatives positions explode during a rally, it means that the surge is leverage-driven. Price moves of this type can unwind in a volatile manner. The Open Interest rose by more than 15% in the recent Bitcoin run, which is considered a very significant amount. When the price reversed its direction, all these leveraged longs were caught up in the squeeze, which only provided further fuel for the crash, explaining its particularly sharp nature. Featured image from Dall-E, CoinGlass.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":658377,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[15131,84332,93483,84546,1119,78790,89791],"class_list":["post-658358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin-flash-crash","tag-bitcoin-liquidations","tag-bitcoin-long-liquidations","tag-bitcoin-longs","tag-btc","tag-btcusdt","tag-crypto-longs"],"acf":[],"yoast_head":"\nBitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations<\/title>\n<meta name=\"description\" content=\"Data shows the crypto derivatives market has suffered a massive amount of liquidations after the Bitcoin flash crash during the past 24 hours.\" \/>\n<meta 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Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations","url":"http:\/\/ktsl888.com\/bitcoin-news\/bitcoin-flash-crash-710-crypto-long-liquidations\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/bitcoin-news\/bitcoin-flash-crash-710-crypto-long-liquidations\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/btc_61bcc1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/btc_61bcc1.png?fit=1792%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin flash crash","bitcoin liquidations","bitcoin long liquidations","bitcoin longs","btc","btcusdt","crypto longs"],"dateCreated":"2024-12-07T06:30:18Z","datePublished":"2024-12-07T06:30:18Z","dateModified":"2024-12-07T06:30:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/bitcoin-flash-crash-710-crypto-long-liquidations\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/bitcoin-flash-crash-710-crypto-long-liquidations\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/btc_61bcc1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/btc_61bcc1.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin flash crash\",\"bitcoin liquidations\",\"bitcoin long liquidations\",\"bitcoin longs\",\"btc\",\"btcusdt\",\"crypto longs\"],\"dateCreated\":\"2024-12-07T06:30:18Z\",\"datePublished\":\"2024-12-07T06:30:18Z\",\"dateModified\":\"2024-12-07T06:30:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/btc_61bcc1.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/658358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=658358"}],"version-history":[{"count":4,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/658358\/revisions"}],"predecessor-version":[{"id":658670,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/658358\/revisions\/658670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/658377"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=658358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=658358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=658358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}