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Biggest long liquidation event for crypto in 2023 took place on April 19
Roughly $260M of long liquidations occurred yesterday, the most in crypto this year
1 min read
Updated: Apr. 20, 2023 at 2:27 pm UTC
Quick Take
- Roughly $260 million of longs were liquidated on April 19; this is the biggest liquidation for longs in 2023.
- Roughly $250 million of shorts were liquidated on April 14, previously the most liquidations seen this year.
- These liquidation cascades show that derivatives have grown slightly as the year progresses, and confidence within crypto continues.
- You can also see how the market was hedged long in terms of dominance, showing the market was overconfident.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
