Short-sellers see max pain as crypto market pumps following inflation report

Crypto short-sellers saw massive liquidation in the past four hours as the market pumped on the back of inflation numbers remaining within expected bounds.

CoinGlass data shows that more than 85% of the $151.24 crypto liquidations over the period were short positions — amounting to roughly $130 million as of press time.

Meanwhile, long liquidations over the same time stood at a little over $21 million as of press time — less than 15%.

Meanwhile, liquidations hit $223.65 million in total over a 24-hour time frame — with short liquidations amounting to $175.82 million and longs amounting to $48.76 million.

Approximately 57,721 traders were liquidated over the last 24 hours.

BTC liquidations

Over the past four hours, a little over $57 million was liquidated in BTC short positions as the flagship crypto breached $26,000. Long liquidations over the period stood at $11.71 million.

BTC was trading at $25,927 as of press time after getting rejected by resistance at $26,500.

Total BTC liquidations over the last 24 hours amounted to $103.61 million — $49.15 million of which was liquidated in the last four hours.

ETH liquidations

Ethereum short-sellers saw similar pain over the period, with a little under $40 million in short positions liquidated in the last four hours. Long liquidations stood at $4.65 million.

Roughly $56 million in ETH positions were liquidated over the past 24 hours in total — with about $21 million liquidated in the past four hours, as of press time.

The largest single liquidation was an ETHUSD position and totaled $10.01 million, according to CoinGlass data.

Exchange numbers

The vast majority of liquidations over the past 24 hours — 34.28% — took place on Binance. Short liquidations made up 73.53% of the $75.83 million total and stood at $55.76 million.

OKX saw the second most liquidations — 22.08% — over the period, with short liquidations on the exchange amounting to $42.07 million. Total liquidations on the exchange stood at $48.84 million.

Bybit also saw a significant percentage of liquidations — 18.1% — over the period, with shorts contributing $27.47 million of the $40.04 million total.

The post Short-sellers see max pain as crypto market pumps following inflation report appeared first on CryptoSlate.