Crypto short liquidation cross $750M in 4 hours as Bitcoin reclaims $20k

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Crypto short liquidation cross $750M in 4 hours as Bitcoin reclaims $20k Crypto short liquidation cross $750M in 4 hours as Bitcoin reclaims $20k Liam ‘Akiba’ Wright · 2 hours ago · 1 min read

Short liquidations hit a 3-month high as Bitcoin wipes out $356M in less than four hours

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Updated: October 25, 2022 at 10:34 pm

Crypto short liquidation cross $750M in 4 hours as Bitcoin reclaims $20k

Cover art/illustration via CryptoSlate

Xeggex

Over $750 million in crypto shorts have been liquidated over the past 4 hours as Bitcoin reclaims $20,000.

Bitcoin and Ethereum led the liquidations, with $356.14 million and $328.18 million, respectively, wiped out. Data from Coinglass below highlights the breakdown across the cryptocurrency industry.

crypto liquidations
Source: Coinglass

The liquidations mark a three-month high, as shown in the chart below. The next highest level of liquidations was long liquidations on Aug. 19, when $562 million was liquidated. The total liquidations over 24 hours on Oct. 25 totaled $790 million.

crypto liquidations
Source: Coinglass

The most significant single short liquidation occurred on the Okex Exchange, where 2,000ETH was liquidated at $1,524. Ethereum is up 6% on the day as it passed $1,500 around 7 PM BST.

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