Over $335M Liquidated: Bitcoin, Ether, Bigtime, Ordi Tokens Sweep Away Traders' Dreams
Portfolio Pulse from Murtuza Merchant
Over $335 million was liquidated in the altcoin market, with significant losses involving Big Time (BIGTIME) and Ordi Protocol (ORDI) tokens. Bitcoin (BTC) and Ether (ETH) saw $85 million in liquidations, while ORDI and Bigtime experienced $15 million and $12 million, respectively. The liquidations affected both long and short positions amid price fluctuations. The interest in Bitcoin-linked tokens and crypto gaming platforms has driven up the prices of ORDI and Bigtime tokens by 580% and 400%, respectively. Other tokens like Celestia (TIA) and Memeland (MEME) also saw losses, as did Terra ecosystem tokens LUNC, USTC, and LUNA.
December 05, 2023 | 4:57 pm
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NEGATIVE IMPACT
Bigtime token experienced about $12 million in liquidations, reflecting the high volatility in the altcoin market.
The liquidation of Bigtime tokens could lead to short-term price declines due to the sudden increase in market volatility.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Bitcoin experienced $85 million in liquidations, affecting both long and short positions due to price fluctuations.
The significant amount of liquidation indicates high volatility and could lead to a bearish sentiment in the short term for Bitcoin.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ether saw a combined $85 million in liquidations with Bitcoin, impacting traders with both long and short positions.
The liquidations suggest increased volatility for Ether, potentially leading to negative price action in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ORDI tokens faced around $15 million in liquidations, indicating a bearish outlook in the short term.
The substantial liquidations of ORDI tokens could result in downward pressure on its price in the near future.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70