Bitcoin Surpassing $121,000 May Trigger Over $1 Billion in Short Liquidations Amid Market Volatility
Main Idea
Bitcoin's price surge above $121,000 triggered over $1.145 billion in short liquidations on major exchanges, causing significant market volatility and impacting altcoins like ETH and XRP.
Key Points
1. Bitcoin's price breaking $121,000 led to $1.145 billion in short liquidations across major exchanges.
2. The liquidation event caused historic market volatility and affected altcoins such as ETH and XRP, with liquidation values ranging from $68 million to $190 million.
3. Institutional investors played a key role, with crypto treasuries holding approximately 3.5 million BTC.
4. The scale of liquidations surpassed previous peak events, including those during the 2021 bull run.
5. Exchanges like Binance, Coinbase, Bybit, and Deribit were directly impacted by the liquidation surge.
Description
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