- BTC and ETH liquidations summed up to $16.14 million in the last 24 hours.
- The shorter and longer EMA were almost at the same spot, indicating possible BTC consolidation.
- ETH’s momentum decreased, suggesting that the price might fall to $3,437.
The prices of Bitcoin (BTC) and Ethereum (ETH) ended the just-ended week on a positive note. As a result, the last 24 hours were tough for traders who leaned toward bearish sentiment and bet on their conviction.
According to derivatives information portal Coinglass, over $62 million was liquidated on May 25. Out of this ETH positions were valued at $8.58 million. BTC contracts wiped out, on the other hand, were worth $7.56 million.
For those unfamiliar, liquidation occurs when a trader is unable to meet the requirements to keep a position open, leading an exchange to forcefully close the contract. This could be due to insufficient margin balance or a wrong prediction accompanied by high leverage of volatility.
Crypto Market Liquidation (Source: Coinglass)
At press time, BTC’s price was $69,085 while ETH changed hands at $3,803. A few weeks back, the …
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