{"id":20872,"date":"2024-10-15T06:50:33","date_gmt":"2024-10-15T06:50:33","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=20872"},"modified":"2024-10-15T06:50:33","modified_gmt":"2024-10-15T06:50:33","slug":"bitcoin-surge-130-million-in-shorts-liquidated-as-btc-exceeds-66000","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/bitcoin-surge-130-million-in-shorts-liquidated-as-btc-exceeds-66000\/","title":{"rendered":"Bitcoin Surge: $130 Million in Shorts Liquidated as BTC Exceeds $66,000"},"content":{"rendered":"\n

Recent data indicates that the cryptocurrency derivatives market has experienced significant liquidations as Bitcoin’s price has surged to $66,000.<\/p>\n

<\/span>Bitcoin Price Climbs to $66,000<\/span><\/h2>\n

Bitcoin investors have reason to celebrate as the cryptocurrency’s value has surged sharply, reaching the $66,000 mark for the first time since late September.<\/p>\n

The chart below illustrates the recent price movements of Bitcoin.<\/p>\n

<\/p>\n

This increase of 6% in a 24-hour period brings Bitcoin closer to surpassing its September peak, which would mark its highest level since July.<\/p>\n

As is often the case, Bitcoin’s rally has positively influenced other cryptocurrencies, with Ethereum (ETH) and Solana (SOL) showing even greater growth at 8% and 7%, respectively.<\/p>\n

Given the recent volatility, it’s no surprise that the derivatives market has faced significant disruptions.<\/p>\n

<\/span>$233 Million in Liquidations in Crypto Derivatives<\/span><\/h2>\n

According to CoinGlass<\/a>, the past 24 hours have seen a substantial amount of liquidations in the cryptocurrency derivatives market. A liquidation occurs when a contract is forcefully closed by the trading platform after incurring substantial losses.<\/p>\n

The following table provides the latest figures on this mass liquidation event:<\/p>\n

\"Bitcoin<\/p>\n

As shown, approximately $233 million in cryptocurrency derivatives contracts were liquidated during this period, predominantly affecting short contracts. Investors betting against the market faced losses totaling $198 million, nearly 85% of the total liquidations.<\/p>\n

In individual terms, Bitcoin led the pack with nearly double the liquidations compared to Ethereum. However, Bitcoin’s share of the total liquidations was only 39%, indicating that altcoins have also been actively traded amidst this speculation.<\/p>\n

\"Bitcoin<\/p>\n

Among other cryptocurrencies, Solana faced the highest liquidations at approximately $11 million, followed by SUI and NEIRO with liquidations of $7 million and $5 million, respectively.<\/p>\n

Today’s extensive liquidation event is often referred to as a squeeze, specifically a short squeeze, given the predominance of short liquidations among the total.<\/p>\n

During a squeeze, the resulting liquidations can further amplify the price movement, creating a cycle of volatility that leads to additional liquidations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recent data indicates that the cryptocurrency derivatives market has experienced significant liquidations as Bitcoin’s price has surged to $66,000. Bitcoin Price Climbs to $66,000 Bitcoin investors have reason to celebrate as the cryptocurrency’s value has surged sharply, reaching the $66,000 mark for the first time since late September. The chart below illustrates the recent price […]<\/p>\n","protected":false},"author":1,"featured_media":20873,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin Surge: $130 Million in Shorts Liquidated as BTC Exceeds $66,000 - Bitrabo","description":"Recent data indicates that the cryptocurrency derivatives market has experienced significant liquidations as Bitcoin's price has surged to $66,000. Bitcoin Pric"},"footnotes":""},"categories":[316],"tags":[5272,4790,9446,448,1190,449,1254,504,4837,1593,567],"class_list":["post-20872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-5272","tag-4790","tag-130m","tag-bitcoin","tag-breaks","tag-btc","tag-bulls","tag-crypto","tag-liquidated","tag-shorts","tag-strike"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/20872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=20872"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/20872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/20873"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=20872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=20872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=20872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}