Share this article
Bitcoin Shorts Take on 87% of Futures Liquidations as BTC Crosses $30K
Over $145 million in short positions against bitcoin prices were liquidated since early Asian morning hours on Tuesday.
Updated Apr 11, 2023, 2:31 p.m. Published Apr 11, 2023, 6:17 a.m.
Strength in bitcoin pushed the asset over the crucial $30,000 level for the first time since June 2022, causing heavy losses to traders betting on a decline.
Over 87% of all future trades that were liquidated in the past 24 hours were short, or bets against a rise in prices. Losses from these trades amounted to some $145 million in the process. Crypto exchange Huobi had over $45 million in liquidations on its platform, followed by counterparts Binance and OKX at $35 million each.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The largest single liquidation order happened on Huobi, a bitcoin/tether trade valued at $11 million.
Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).
Large liquidations can signal the local top or bottom of a steep price move, which may allow traders to position themselves accordingly.
Recent strength in bitcoin can likely be attributed to worsening economic conditions which may lead to the adoption of a decentralized asset among investors, some opine.
“Bitcoin has effectively decoupled from the traditional markets since the start of the year, up over 80% while stocks have slumped,” said Alex Adelman, CEO of bitcoin rewards app Lolli, in an email to CoinDesk. “Bitcoin’s strength compared to the traditional markets shows that investors are increasingly shifting their capital into bitcoin, choosing it instead of traditional investments to build their wealth.”
“The fact that today’s rally did not have a clear catalyst is a bellwether of bitcoin’s newly bullish market conditions and strong investor confidence. Bitcoin’s ongoing strength suggests that bitcoin is emerging from the so-called ‘crypto winter’ into a new phase of strength and renewed interest from retail and institutional investors,” Adelman added.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
BNB tops $870, outperforming crypto majors as volume surges
Market participants are watching whether BNB can hold above $870 and challenge resistance at $880, with a break higher potentially targeting $900.
What to know:
- BNB rose 2.5% to $872, outperforming the broader market which gained 1.4%.
- The token's action showed higher lows and sustained gains, and increased trading volume.
- Market participants are watching whether BNB can hold above $870 and challenge resistance at $880, with a break higher potentially targeting $900.
Top Stories
