Cryptocurrency Liquidations: Ethereum, Dogecoin, and Bitcoin See Price Volatility
Cryptocurrency Market Sees $290 Million in Liquidations as Bitcoin, Ethereum, and Dogecoin Prices Fluctuate
Despite a day of volatility in the prices of Bitcoin, Ethereum, and Dogecoin, most traders managed to weather the storm as each of the three cryptocurrencies ended up roughly where they started by Monday evening. However, the price spikes along the way triggered a wave of crypto liquidations totaling over $290 million across the market.
Ethereum led the pack with approximately $58.9 million worth of liquidations triggered by ETH’s price movement in the last 24 hours, according to data from CoinGlass. The majority of ETH-related positions liquidated on Monday were long positions.
While Ethereum only fell 2% overall on Monday, the token briefly dipped below $3,500 before quickly recovering. This slight drop below the $3,500 mark may have triggered the wave of liquidations.
Dogecoin also experienced a minor but significant drop, briefly falling below $0.13 before bouncing back. This dip led to over $44 million worth of DOGE long positions being liquidated in the last 12 hours alone. Dogecoin is down 3.6% on the day overall.
Bitcoin, on the other hand, saw short positions being the majority of positions liquidated. In the last 24 hours, approximately $21 million worth of BTC short positions and $19.86 million worth of long positions were liquidated. Despite briefly shooting up past $67,000 on Monday afternoon, Bitcoin now sits at $66,376.
Overall, the cryptocurrency market experienced a day of ups and downs, with traders navigating through the volatility to end the day with prices relatively stable.
