Especially the increase in liquidations gives important clues about the current situation of the market. According to data provided by Coinglass, total crypto liquidations increased by 43% in the last 24 hours, reaching $534 million.

$352 million of these liquidations resulted from long positions and $181 million from short positions. In this process, more than 200,000 traders lost their open positions.

The crypto asset that attracted the most attention in liquidations was XRP. XRP saw $69 million liquidated in 24 hours. Of this amount, $36 million came from long positions and $33 million came from short positions.

These liquidation figures for XRP come after the asset reached a local peak of $2.85, a 400% increase in value in the last 30 days. On the other hand, market leader Bitcoin also suffered a significant blow in this process.

Bitcoin fell below the $96,000 level in the morning and experienced a liquidation of $60 million. $40 million of this loss consisted of long positions and $20 million consisted of short positions. According to Coinglass data, the $2.1 million BTC/USD perpetual contract liquidation on Binance was the largest single trading loss of the day.

Altcoins with small market capitalization also had their share of this process and experienced a total liquidation of $ 108 million due to the decrease in the price of Bitcoin. This triggered a short-term sell-off, creating fear, uncertainty and doubt (FUD) among market participants.

The leadership in liquidations on an exchange basis belonged to Binance. While Binance recorded daily liquidations of $222 million, 63% of these transactions consisted of long positions. OKX and Bybit exchanges also recorded liquidations worth $134 million and $124 million, respectively.

The general volatility and uncertainties of the market are notable at a time when the total market value of the crypto industry is moving at $3.66 trillion, according to CoinGecko data.

Interestingly, in the last month, investors purchased a total of $1.2 trillion worth of cryptocurrencies. Additionally, daily crypto trading volume increased by 38% to $375 billion, demonstrating the interest in the sector.

Bitcoin and altcoins continue to cause mixed signals among investors. The price movements of Bitcoin, the leading crypto asset, have a huge impact on the overall market sentiment.

Currently, investors’ eyes are on whether Bitcoin can surpass the psychological level of $100,000. However, it remains unclear whether this level will be exceeded.

While altcoins such as XRP attract attention with rapid price increases and large liquidations, Bitcoin’s price fluctuations also increase the general volatility of the market. While this situation has caused investors to reconsider their strategies, seeing how the market will cope with short-term uncertainties has become an important focus.

While market participants are looking for new opportunities in this volatility environment, they also attach great importance to risk management. While increases in total market capitalization and daily trading volume keep interest in the crypto sector alive, investors continue to carefully analyze the future direction of the market.