- Crypto whales moving funds signals rising market uncertainty amid economic shifts.
- Rising U.S. bond yields contribute to growing investor unease and market volatility.
- Significant liquidations across tokens indicate widespread market sensitivity to news.
The cryptocurrency market is passing through strong headwinds as crypto whales; those big-time investors, are moving millions into centralized exchanges, signaling potential choppiness ahead.
Coinglass data reveals that just in the last 24 hours, liquidations have skyrocketed to $1.65 billion. This dramatic surge suggests that recent economic shifts, like the climb in U.S. bond yields, have spooked investors.
These liquidations highlight just how sensitive the crypto market has become to broader economic news and trends. The distribution of liquidations across various tokens provides a snapshot of market sentiment.
Liquidations Hit Multiple Tokens
The $1.65 billion in liquidations over the past day is a mix of both long and short positions. Long positions took the brunt of it, with $1.47 billion wiped out.
Short positions saw lighter losses, totaling $180.24 million. The “Others” category suffered the most, with $707.62K in liquidated positions. Close behind was 1000PEPE, with $567.49K, and MOVE, with $418.93K in liquidations.
1MBABYDOGE and DOGE also saw significant liquidations, totaling $360.27K and $330.91K, respectively.
PEPE and XRP also faced notable drops, with $250.59K and $241.47K in liquidations. These widespread liquidations show that the volatility isn’t confined to a few major tokens; it’s spreading across the market.
Bitcoin and Other Tokens Buckle Under Pressure
Even Bitcoin (BTC), hasn’t escaped the turmoil. The leading digital asset saw liquidations amounting to $130.38K.
Read also: These 10 Altcoins Are Seeing Massive Whale Activity: What’s Next?
Smaller tokens, like TROY and ENA, recorded liquidations of $168.73K and $137.05K. Tokens such as TRX, ADA, and ETH all experienced substantial liquidations, signaling widespread investor anxiety.
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