Home » Ethereum sets record ETH short liquidations, wiping out $500 billion in 2 days

Ethereum sets record ETH short liquidations, wiping out $500 billion in 2 days

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ether (ethereum) has set a liquidation record this week, with relatively modest price gains revealing market bearishness.

Data from on-chain analytics platform CryptoQuant Confirmed Its USD-denominated short liquidations hit a new all-time high on October 25th.

$500 million ETH short in 2 days

Not just Bitcoin (Bitcoin) has caused the bears some serious pain this week — data from the exchange also shows that Ethereum shorts suffered heavy losses.

According to data from, ETH/USD made a pretty impressive gain on October 25-26, rising from a low of $1,337 to a high of $1,593 on Bitstamp. Cointelegraph Market Pro When TradingView.

ETH/USD 1-day candle chart (Bitstamp).Source: Trading View

cipher and altcoinIn particular, market fluctuations due to price movements were conspicuous.

Similar to Bitcoin, the market came to a very short ETH, expecting a trip to new macro lows after weeks of sideways movements and failed breakouts.

Therefore, it only took about $250 upside (in USD terms) to liquidate a short position of $275 million on Oct. 25 and another $250 million the next day. .

US Dollar ETH Short Liquidation Chart. Source: CryptoQuant

Over $500 million in positions were wiped out in two days, not even a record for ETH. The positions were worth a total of 189,638 ETH and 161,986 ETH respectively.

ETH denominated ETH short liquidation chart. Source: CryptoQuant

“ETH has been short-squeezed for the last two days in a row. Daily short liquidations across all exchanges have reached a record high,” said Ki Young Ju, CEO of CryptoQuant. commented on the data.

BTC Washes Out Speculators

As reported by Cointelegraph, Bitcoin pictures were largely similar Because the price performance has solidified.

Related: Bitcoin’s Weak Hand Is ‘Almost Gone’ As BTC Ignores Amazon, Meta Stocks Drop

according to On Oct. 25 and 26, exchanges saw short sales of $328 million and $332 million, respectively, according to the latest figures from on-chain analytics resource Coinglass.

BTC liquidation chart. Source: Coinglass.

The October 27 tally is already much lower at $5.7 million, which is firmly in line with established standards for Bitcoin. Consolidation over $20,000.

Nevertheless, exchange users were betting that the rally would continue. Largest Daily BTC Balance Decrease Ever on the major exchange Binance.

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