Ethereum Shorts Take A $27 M Hit, Bitcoin Long Positions Suffer Liquidations — Analytics Firm Reveals Large ETH Wallets Hit Record Highs
Portfolio Pulse from Mehab Qureshi
Over $27 million in Ethereum (ETH) short positions were liquidated as its price neared $2400, with Binance, OKX, and Huobi experiencing significant liquidations. Bitcoin (BTC) long positions also faced over $26 million in liquidations. Total market liquidations reached $161.95 million. Santiment reports that large ETH wallets are at record highs, indicating a positive trend for Ethereum's price.
December 08, 2023 | 5:10 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ethereum's price surge led to a significant liquidation of short positions, indicating strong bullish sentiment and potential for continued price increase.
The liquidation of a large number of short positions often suggests a strong bullish sentiment among investors, which could lead to a short-term increase in Ethereum's price. The record highs in large ETH wallets also support the potential for continued upward price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Bitcoin experienced significant liquidations in long positions, which may indicate short-term bearish pressure or market volatility.
The liquidation of long positions in Bitcoin suggests that there may be short-term bearish pressure or increased market volatility. However, without additional context on market trends, the long-term impact remains uncertain.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80