Crypto Liquidations Top $500M as Bitcoin Retreats from $100K

• Thousands of traders were liquidated on Sunday after Bitcoin’s price plunged. 
• The liquidations crossed half a billion dollars. 
• Investors on Binance accounted for the lion’s share of the liquidations. 

Crypto liquidations spiked on Sunday, crossing over half a billion dollars in the last 24 hours as Bitcoin’s price cut its rally short to move further from the $100,000 level. 

Bitcoin surged to historic new highs after Donald Trump won the U.S. presidential election earlier this month. For the last week, the crypto asset mostly traded above $98,000, threatening to rise above $100,000, before plunging below $96,000 on Sunday amid mild volatility that wiped hundreds of millions from the market in a few hours. 

When writing, the overall crypto market cap had fallen from $3.5 trillion to $3.3 trillion.

Latest Crypto Liquidations 

According to recent Coinglass data , over 199,000 traders were liquidated a total of $511.27 million in the last 24 hours following Bitcoin’s downward trend on Sunday evening. This included $380.57 million in long and $130.53 million in short liquidations. 

Binance, the world’s largest crypto exchange by trade volume, witnessed the largest single liquidation order of $13.4 million on its BTC/USDT trading pair. Total liquidations on the exchange over the last 24 hours reached $225.67 million as traders on OKX , Bybit, and HTX were liquidated $123.18 million, $119.03 million, and $28.19 million, respectively, over the same period. 

Per the Coinglass liquidation heatmap, Bitcoin accounted for $78.94 million of the total liquidations, followed by Ether, DOGE, and XRP at $42.25 million, $34.96 million, and $30.62 million, respectively. 

CoinMarketCap data shows that Bitcoin’s price fell from a daily high of $98,515 on Sunday to $95,830 at around 8.50 PM (GMT+3). The crypto asset had trimmed some of the losses to exchange hands at $97,618 at the time of writing. 

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