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<p dir="ltr">CoinGlass <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">data</a> reveals that $676 million of cryptocurrency has been liquidated over the last 24 hours. This liquidation comes as the leading digital currency, Bitcoin (BTC),<a href="https://u.today/bitcoin-hits-100000-for-the-first-time-in-history" rel="noopener noreferrer nofollow">registered</a> a massive breakout that surpassed $100,000.</p>
<h2 id="bitcoin-leads-crypto-liquidation-falloff">Bitcoin leads crypto liquidation falloff</h2>
<p dir="ltr">Overall, in the past 24 hours, 208,238 traders were liquidated, with total liquidations coming in at $676.21 million. Long positions accounted for most of these liquidations at $372.79 million, while short positions were $69.37 million less at $303.42 million.</p>
<p dir="ltr">The largest liquidation registered is Bitcoin, with $182.52 million. The CoinGlass data shows that most Bitcoin liquidations were registered by traders who took the short position. A total of $134.82 million BTC were liquidated, while the long position saw a $47.69 million loss.</p>
<p dir="ltr">Ethereum and XRP followed with $92.16 million and $55.90 million, respectively. Like BTC, Ethereum saw more short positions ($61.15 million) liquidated than long positions ($31.01 million). XRP flipped the pattern, with more long traders ($39.41 million) liquidating than short traders ($16.49 million).</p>
<p dir="ltr">OKX, Binance and Bybit are in the lead regarding the exchanges where the biggest liquidations took place. These had total liquidations of $260 million, $163 million and $159 million, respectively.</p>
<h2 id="what-s-next-for-market">What’s next for market?</h2>
<p dir="ltr">Bitcoin has been performing bullishly over the past week. The coin peaked on the night of Dec. 4, when it crossed the psychological level of $100,000. Analysts believe this triggered extreme greed among traders.</p>
<p dir="ltr">Despite these liquidations, <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">data</a> shows that the market volume of Bitcoin has surged by 88.19% to $128.20 billion as investors’ interest continues to grow. The price has remained fairly stable between $103.500 and $101,600 since it crossed the $100,000 milestone.</p>
<p dir="ltr">Similarly, <a href="https://u.today/ethereum-eth-resumes-its-4000-price-journey" rel="noopener noreferrer nofollow">Ethereum</a> has registered a 5.29% increase to $3,930.35, with market volume up by 48.21% to $65.74 billion. However, <a href="https://u.today/xrp-to-hit-3-key-level-to-watch" rel="noopener noreferrer nofollow">XRP</a> tells a different story, as the price has dipped by 7.9% to $2.40. XRP’s market volume has also dropped by 26.90% to $26.58 billion.</p>
<p dir="ltr">Amid this price action, experts see more price rallies ahead, with Samson Mow <a href="https://u.today/bitcoin-advocate-samson-mow-confirms-1-million-btc-price-target" rel="noopener noreferrer nofollow">projecting</a> a $1 million target for Bitcoin.</p> <a href="https://u.today/crypto-liquidation-hits-676-million-amid-epic-bitcoin-breakout" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Crypto Liquidation Hits $676 Million Amid Epic Bitcoin Breakout

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