cryptocurrency marketThere have been liquidations exceeding $1 billion in the last 24 hours. Bitcoin (BTC) $98,402.6It fell from its historical peak of over $103 thousand on Thursday to $90 thousand in the early hours of Friday morning. This decrease occurred due to the increase in profit sales.
Bitcoin and Ethereum were Most Affected by the Liquidations
A net liquidation of approximately $500 million occurred in Bitcoin futures. $420 million of this amount resulted from long positions. Ethereum (ETH) 
$3,882.9 Its futures recorded liquidations of $85 million. Liquidations occur when a trader is unable to maintain sufficient funds to keep a leveraged position open, with the exchange forcing the closing of the position.
According to cryptocurrency exchange data, more than 156 thousand traders were liquidated. Largest single liquidation transaction OKX There was a BTC/USD position worth $18 million on the stock exchange. It was stated that 89 percent of the affected traders had long positions. this situation cryptocurrency It indicates that the market is expecting an upward movement in an overly optimistic mood.
DOGE and XRP Couldn’t Escape the Fall
Other than Bitcoin and Ethereum dogecoin 
$0.430901 (DOGE) and XRP (XRP) futures saw a total liquidation of $50 million. Either altcoin also reached record levels due to the rallies they experienced in recent weeks. However, the latest correction led to sharp declines in the prices of these altcoins.
Moreover open interest The total of active futures contracts, called the (OI) amount, also attracts attention. The last correction brought about serious decreases in these positions. While high OI is interpreted as new money entering the market, decreases indicate that investors’ risk perception has changed.
latest popular crypto fear and greed indexdropped from the level of “extreme greed” to the level of “greed”. This level indicates the lowest level of the last 30 days. The index generally shows the emotional state of market participants and helps determine the local bottom or top levels of market participants.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
