Bitcoin wipes $196 million in long bets as price tests $107k safety net
Bitcoin rose 2% Monday earlier than easing, whereas crypto liquidations totaled $274.63 million in 24 hours, per CoinGlass.
The transfer adopted a weekend of range-bound commerce and saved the price close to the $107,000 help space. Bitcoin set an all-time high close to $123,000 on Aug. 14 and has drifted decrease via late August, a backdrop that framed Monday’s fast leap towards $110,000 earlier than giving again a part of the advance.
Across the final day, liquidations skewed towards long positions. CoinGlass recorded $196.08 million in long liquidations towards $78.55 million in shorts, with 108,569 accounts closed out. The largest single order occurred on Binance’s ETHUSDT pair at $3.17 million. That profile aligns with spot motion over the weekend, when price light from rallies and compelled over-extended longs to exit.
The intraday image turned in the morning pop. In the newest 4 hours, $56.46 million was liquidated, and 83.45% got here from shorts, indicating the two% spike flushed late sellers earlier than the price cooled. The one-hour tally printed $3.33 million, in keeping with a contained tempo of compelled unwinds versus the heavier 12-hour window at $225.61 million, in line with CoinGlass.
By alternate over 24 hours, Binance accounted for $105.86 million in liquidations, 72.03% from longs, adopted by Bybit at $70.84 million, 78.89% from longs, and OKX at $42.61 million, 62.08% from longs. The distribution shifted in the newest four-hour window as the brief facet dominated, led by Binance at $19.40 million, 75.09% shorts, OKX at $13.20 million, 88.84% shorts, and Bybit at $10.50 million, 84.64% shorts.
Asset-level flows tracked the identical rotation. The 24-hour liquidation warmth map confirmed $69.03 million tied to Ethereum positions and $48.84 million in bitcoin positions, with the Binance ETHUSDT wipeout the day’s largest single print. Concentration in the highest two property framed a comparatively orderly backdrop for the broader market, even as intraday swings compelled opportunistic positioning to reset.
Spot ranges mirrored that two-sided commerce. Bitcoin modified fingers round $109,874 at press time, up 0.95% on the day and 1.47% on the week, with a market worth close to $2.19 trillion and a circulating provide of about 19.91 million. Ethereum traded close to $4,480, up 0.21% on the day and a pair of.48% on the week, with a market worth close to $541 billion and circulating provide round 120.7 million.
Monday’s pop capped two weeks of gradual retracement and saved consideration on whether or not spot can proceed to carry the $107,000 space that has outlined the decrease finish of the present vary.
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