Crypto markets experienced major long liquidations on Monday totaling around $770 million, nearing the January 18 monthly high. SOL and DOGE led the mainstream down more than 10 percent, while Ethereum (ETH), BNB, XRP, and Cardano (ADA) also fell 9 percent.
Crypto's overall market capitalization fell 8.5% in the Asian afternoon trading session on Monday. According to Coinglass data, the Bitcoin futures market lost $238 million in the past 24 hours, including a combined loss of $50 million for long positions in SOL and DOGE, a loss of $138 million for counterfeit products futures, and a loss of $84 million for Ethereum futures. HTX had its largest single clearing order, with a bitcoin trade worth $98.40 million being position squaring.
The analysis points out that large-scale liquidations may indicate excessive leverage in the market, and this correction may provide clues to market positioning and sentiment. At the same time, the price area where large-scale liquidations occur may become a future support or resistance level. Whether the market continues to decline will depend on the increase in short positions and the bottom fishing behavior of contrarian investors.
Today's long settlement is about $770 million, approaching a monthly high
2025-01-27 08:27:52
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
今日多头清算量约7.7亿美元逼近月度高点Next article：
ZKsync 治理提案 GAP-1 获通过，2025 年将聚焦协议开发与生态扩张
