The price of Bitcoin has increased by more than 10% during trading, exceeding $ 71, according to data from Binance.
As of 11:23 a.m. Bulgarian time, Bitcoin has increased by 10.69%, trading at $ 71,147. As of 11:30 a.m. Bulgarian time, Bitcoin was at $ 71,337 (an increase of 10.97%). Meanwhile, Ethereum (ETH) rose 18.8% to $2,277.79.
According to data from Coinglass, global crypto exchanges have liquidated positions of more than 184,000 traders in the past 24 hours, totaling over $3.26 billion. Most of the liquidations occurred in Bitcoin ($1.67 billion). $3 billion of the liquidations were short positions, while $263.09 million were long positions. The largest liquidation order in the past 24 hours was placed on crypto exchange Hyperliquid for the BTC-USD pair, worth $48.8 million.
A cryptocurrency liquidation is the forced closing of a trading position by an exchange using leverage (a mechanism that allows a trader to manage a position using borrowed funds from an exchange or broker) due to insufficient funds to maintain the trade. This occurs when losses on an open position exceed the initial trade amount, protecting the trader from debt and the exchange from risks.