Major cryptocurrencies on Thursday evening dropped as traders betting on long positions faced substantial liquidation.
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EST) |
| Bitcoin (CRYPTO: BTC) | -3.11% | $41,243 |
| Ethereum (CRYPTO: ETH) | -2.41% | $2,460 |
| Dogecoin (CRYPTO: DOGE) | -3.51% | $0.077 |
What Happened: According to the data from Coinglass, the past 24 hours have seen over $200 million worth of cryptocurrency long positions liquidated.
Specifically, for BTC, longs worth over $65 million were liquidated, while for ETH, over $27 million in longs faced the same fate.
The total number of traders liquidated in this period stands at 90,781, with the total liquidation amount reaching $227.91 million for both long and short positions. Notably, the largest liquidation order occurred on Binance for BTC-USDT, amounting to $7.31 million.
Since the introduction of the approved spot Bitcoin ETFs on Jan. 11, the price of Bitcoin has experienced a modest increase followed by a subsequent decrease of approximately 13%.
Data updated as of Wednesday reveals that the new spot ETF issuers collectively acquired over 68,000 bitcoins within their first week of trading. On the other hand, Grayscale’s GBTC has offloaded approximately 40,000 Bitcoins, resulting in a net increment of about 28,000 Bitcoins to the Bitcoin ETFs.
Top Gainer (24 Hour)
| Cryptocurrency | Gains +/- | Price (Recorded 9:30 p.m. EDT) |
| Flare (CRYPTO: FLR) | +5.60% | $0.022 |
| Conflux (CRYPTO: CFX) | +3.83% | $0.20 |
| Astar (CRYPTO: ASTR) | +1.93% | $0.16 |
The global cryptocurrency market cap now stands at $1.68 trillion, showing a 0.92% decrease in the past 24 hours.
On Thursday, tech companies, spearheaded by Apple, drove the market upwards, propelling the major averages into positive territory.The tech-heavy Nasdaq Composite surged 1.35% to close at 15,055.65, while the S&P 500 advanced 0.88% to end at 4,780.94, now only 15.62 points, or 0.33%, away from its closing record.
The 10-year Treasury yield rose to 4.14% as fresh jobs data indicated ongoing tightness in the labor market. First-time filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, marking a decrease of 16,000 from the previous period, as reported by the Labor Department on Thursday. This surpassed economists’ consensus estimate of 208,000, according to data gathered by Dow…
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