Crypto Liquidation Hits $341 Million as Bitcoin Reclaims $106,000

In the wake of the ongoing Bitcoin BTC $106 326 24h volatility: 4.7% Market cap: $2.12 T Vol. 24h: $70.85 B price recovery to $106,000, 24 hours. The liquidations from BTC, ETH ETH $3 623 24h volatility: 6.8% Market cap: $437.32 B Vol. 24h: $31.29 B , ZEC  ZEC $655.4 24h volatility: 9.7% Market cap: $10.73 B Vol. 24h: $2.14 B , and other top assets summed up to $341.85 million, per the heatmap supplied by CoinGlass. Also, the largest single liquidation order happened on Hyperliquid, valued at $18.96 million.

In the last 24 hours, 117,978 short and long traders were liquidated in the crypto market, leading to a total of $341.85 million in losses. Bitcoin is currently leading the liquidations, with $115.98 million recorded as lost.

Of this figure, short traders are affected the most, with their losses placed at roughly $106.75 million. Long traders, who undershot their bets, lost only $9.22 million.

Affected short traders expected the flagship cryptocurrency to continue in the downtrend, which it began a while ago. Noteworthy, Bitcoin price was barely hanging on to $100,000 and Exchange Traded Fund (ETF) outflows formed a pattern. Hence, there were convictions that the coin would extend the gloomy performance.

Unfortunately for these short traders, Bitcoin hit a recovery, just around the time when Science author, Shanaka Anslem Perera, noted that the bull run is not over. At the time of this writing, BTC price was at $105,922.92, corresponding with a 3.93% surge over the last 24 hours, per CoinMarketCap data.

Ethereum liquidations were capped at $92.01 million within the same period and like the case of Bitcoin, short traders were impacted the most at $76.02 million. Long traders were less liquidated with a loss of $15.99 million.

Other digital assets like Dogecoin DOGE $0.18 24h volatility: 6.4% Market cap: $27.92 B Vol. 24h: $1.98 B , Litecoin XRP $2.53 24h volatility: 12.1% Market cap: $152.43 B Vol. 24h: $4.62 B , and Ripple-associated token XRP BTC $106 326 24h volatility: 4.7% Market cap: $2.12 T Vol. 24h: $70.85 B were equally affected.

Broader Crypto Market Cap at $3.56 Trillion

Generally, the crypto market has begun to show signs of a rebound. It gained about $170 billion in just a day as fresh confidence swept across global trading. Currently, the broader market capitalization is at $3.56 trillion, marking a 3.91% rally in 24 hours.

This is a result of a few favorable events within and around the digital asset market. For example, the Senate ended a weeks-long stalemate in passing a funding bill to end the US government shutdown with a 60–40 vote.

In addition, the Depository Trust & Clearing Corporation (DTCC) has recently added several proposed spot XRP ETFs to its “Active and Pre-Launch” list.

These events are quite positive for the digital asset industry.

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