Crypto Liquidation Drops Over 80% Amid Market Consolidation!

The current situation in the crypto market has many investors panicking. But those investors who are new to the market are most likely to panic because it is new to them and thus they are quite nervous. But those who have faced such situations before and weathered bear market and bull market situations need not panic. However, cryptocurrency liquidations have fallen by more than 80 percent in recent times. The reason behind this decrease in liquidation is that the market has consolidated.

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Even so, the market has been characterized by consolidation as well as low volatility and neutral sentiment. If we look at the current total crypto liquidation in the last 24 hours we can see that this amount is around $42.4 million. Which is one of the largest amounts and hence indicates the least fluctuations in the market. As we are seeing a huge dumping in the market since last two days. As a result, the price of Bitcoin has dropped by a lot and with it the price of Altcoins has dropped a lot. Even on this downward trend, prices are showing a downward trend.

We know Binance is one of the most popular and powerful exchanges currently. It is the largest crypto exchange by trading volume in recent times. Currently accounts for approximately $20 million of these liquidations. This represents almost half of the total liquidations among all other exchanges. It was followed by Seychelles-based OKX. It has about $13 million in liquidation. And thereby it occupies 30.7% of the global total.

As we have been seeing a bearish trend in the crypto market for the past few days, it remains to be seen whether this is a major correction. But in all these cases some factors are involved which I believe will reduce the liquidation. For example if we consider one thing that total cryptocurrency open interest saw a slight increase of 0.2%. Currently it stands at around $66.3 billion. However, the global crypto market capitalization stands at around $2.54 trillion. Although we currently see that these coins have a downward trend, both Bitcoin and Ethereum remain stable. have raised about $66,000 and $3,500 respectively over the past 24 hours. which reflects the neutral position of the market.