CryptoWallCity vs MEXC Exchange

Over $160 million in shorts liquidated as Bitcoin pushes $22k, ETH over $1.4k

Bitcoin price is pushing to $22,000 while ETH surges past $1.4k. This caused a lot of short positions to be liquidated.

The crypto market continues to recover and in the past few days it has achieved a total capitalization of $150 billion, now over $1 trillion.

The price of Bitcoin is currently trading around $22,000, up about 5% over the past seven days and 2.1% over the past 24 hours.

Over $160 million in shorts liquidated as Bitcoin pushes $22k, ETH over $1.4k 1
Source: TradingView

On the other hand, Ethereum is the absolute leader in price performance over the past few days, up 22.6% in the week and 5.5% in the past day.

This resulted in a total liquidation of over $250 million, over $160 million of which were short positions – as expected.

Data from Coinglass reveals that the largest single liquidation order took place on FTX and it was an ETH perpetual contract with a face value of $2.83 million.

ETH is also leading in terms of overall liquidations over the past 4 hours, with a value of 65k of which liquidated (about $94 million in total).

Combined, 64% of the positions that were liquidated were short on the most prominent exchanges, with the largest volume of liquidations being OKX.