- Between February 12 and February 13, Bitcoin experienced price fluctuations between $48,000 and $50,300.
- During this period, there was an increase in market volatility, resulting in nearly $200 million worth of liquidations within a 24-hour timeframe.
- The majority of these liquidations were associated with short positions.
Within the specific timeframe of February 12 to 13, 2024, futures contracts on the cryptocurrency market saw liquidations totaling $196.5 million, while the trading range for Bitcoin was observed between $48,000 and $50,300.
According to CoinGlass, a total of 61,508 traders had their positions liquidated in the past 24 hours. Of these, approximately $93.5 million in losses occurred on long positions, while almost $103 million in losses occurred on short positions.
The largest liquidation, valued at $4.69 million, happened on the Binance crypto exchange in the ETH/USDT trading pair. Additionally, Binance led in terms of the daily volume of traders’ closed positions, which amounted to over $94 million.
It is worth noting that during the day, fluctuations in the value of Bitcoin were influenced by inflation data from the United States. As of the time of writing, Bitcoin is trading around $48,750, according to TradingView.
In early January, the daily volume of liquidations exceeded $500 million following a sharp decline in the price of Bitcoin.