Bitcoin
Bitcoin (BTC)
$61,232.00 -4.45957
Bitcoin price
Ethereum
Ethereum (ETH)
$3,300.70 -5.147
Ethereum price
BNB
BNB (BNB)
$566.71 -3.21992
BNB price
Solana
Solana (SOL)
$127.86 -3.20341
Solana price
XRP
XRP (XRP)
$0.4762600 -1.31469
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000167 -5.90171
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 -5.07967
Pepe price
Bonk
Bonk (BONK)
$0.0000201 -1.40454
Bonk price
Bitcoin
Bitcoin (BTC)
$61,232.00 -4.45957
Bitcoin price
Ethereum
Ethereum (ETH)
$3,300.70 -5.147
Ethereum price
BNB
BNB (BNB)
$566.71 -3.21992
BNB price
Solana
Solana (SOL)
$127.86 -3.20341
Solana price
XRP
XRP (XRP)
$0.4762600 -1.31469
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000167 -5.90171
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 -5.07967
Pepe price
Bonk
Bonk (BONK)
$0.0000201 -1.40454
Bonk price
Bitcoin
Bitcoin (BTC)
$61,232.00 -4.45957
Bitcoin price
Ethereum
Ethereum (ETH)
$3,300.70 -5.147
Ethereum price
BNB
BNB (BNB)
$566.71 -3.21992
BNB price
Solana
Solana (SOL)
$127.86 -3.20341
Solana price
XRP
XRP (XRP)
$0.4762600 -1.31469
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000167 -5.90171
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 -5.07967
Pepe price
Bonk
Bonk (BONK)
$0.0000201 -1.40454
Bonk price
Bitcoin
Bitcoin (BTC)
$61,232.00 -4.45957
Bitcoin price
Ethereum
Ethereum (ETH)
$3,300.70 -5.147
Ethereum price
BNB
BNB (BNB)
$566.71 -3.21992
BNB price
Solana
Solana (SOL)
$127.86 -3.20341
Solana price
XRP
XRP (XRP)
$0.4762600 -1.31469
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000167 -5.90171
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000107 -5.07967
Pepe price
Bonk
Bonk (BONK)
$0.0000201 -1.40454
Bonk price
SirWin
SirWin
SirWin

Nearly $300 million in crypto short positions obliterated 

nearly-300-million-in-crypto-short-positions-obliterated
Edited by
News
Nearly $300 million in crypto short positions obliterated 

The latest upswing in the crypto market rattled leveraged positions on both sides of the aisle, but short traders took the day’s biggest hit. 

Bitcoin (BTC) rallied over 13% in the past week, breaking above $70,000 for the first time since before the halving event last month. According to CoinMarketCap, the leading blockchain asset was less than 5% below its all-time high (ATH) set in March. 

Ethereum (ETH), the second-largest cryptocurrency, surged 30% over the week, reclaiming a $450 billion market and can soon test the $4,000 level.

Nearly $300 million in crypto short positions obliterated  - 1
BTC and ETH rally | Source: CoinMarketCap

A market-wide recovery accompanied the price hikes, with the total cryptocurrency market cap jumping more than 7% in 24 hours to reach $2.7 trillion per CoinGecko. Trading volumes also doubled to $220.5 billion .

Nearly $300 million in crypto short positions obliterated  - 2
Digital asset market cap and volume | Source: CoinGecko

This surge in the market brought volatility that rocked investors betting on higher or lower prices. In financial markets, traders anticipating price increases go long, while betting on price declines is termed a short position. 

CoinGlass liquidation data on May 21 showed that over $380.5 million in leveraged positions were wiped out, with short trades compromising over $294.3 million, and around $97.2 million representing liquidated long positions.

Ether shorts accounted for over $104.9 million in liquidations, the largest of any crypto asset. Bitcoin shorts followed with $83.1 million, and Solana (SOL) $16.9 million short trades came second and third respectively. 

Crypto liquidatoins
Top crypto liquidations on May 21 | Source: CoinGlass