{"id":306827,"date":"2024-05-22T01:06:04","date_gmt":"2024-05-21T19:36:04","guid":{"rendered":"https:\/\/dripp.zone\/news\/crypto-market-saw-374m-liquidated-as-btc-eth-rise-crypto-news\/"},"modified":"2024-05-22T01:07:52","modified_gmt":"2024-05-21T19:37:52","slug":"crypto-market-saw-374m-liquidated-as-btc-eth-rise-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-market-saw-374m-liquidated-as-btc-eth-rise-crypto-news\/","title":{"rendered":"Crypto Market Saw $374M Liquidated As BTC, ETH Rise &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The crypto market has cleared off most of its outstanding deficits as <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/bitcoin-price-analysis-2-key-factors-driving-bitcoin-to-100000-in-2024\/\">Bitcoin<\/a> (BTC) and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/raoul-pal-on-ethereum-price-etf-to-create-a-banana-zone-squared\/\">Ethereum<\/a> (ETH) lead the market\u2019s bullish recovery. At the time of writing, the combined crypto market cap soared by 8.91% to $2.59 trillion.<\/p>\n<h2><strong>Bitcoin and Ethereum Liquidation\u00a0<\/strong><\/h2>\n<p>According to data from Crypto analytics platform CoinGlass, the combined market\u2019s liquidation value comes in at $374.85 million. The liquidation cuts across over 94,400 traders most of whom are short sellers. Per the data, Bitcoin\u2019s liquidation in 24 hours comes in at $97.74 million. This comprises of $24.51 million attributable to long traders and $73.23 million for short traders.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>Surprisingly, Ethereum recorded more liquidations than Bitcoin, considering it is the major mover or catalyst driving the industry. At the moment, Ethereum\u2019s daily liquidation has topped $132.17 million. The long liquidation comes in at $29.24 million while the short liquidations tops $102.93 million.<\/p>\n<figure id=\"attachment_198052\" aria-describedby=\"caption-attachment-198052\" style=\"width: 963px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-198052\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Crypto-Liquidation-Heatmap.jpg\" alt=\"Crypto Liquidation Heatmap\" width=\"963\" height=\"499\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Crypto-Liquidation-Heatmap.jpg 963w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Crypto-Liquidation-Heatmap-300x155.jpg 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Crypto-Liquidation-Heatmap-768x398.jpg 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/Crypto-Liquidation-Heatmap-150x78.jpg 150w\" sizes=\"auto, (max-width: 963px) 100vw, 963px\"\/><\/noscript><figcaption id=\"caption-attachment-198052\" class=\"wp-caption-text\">Crypto Liquidation Heatmap. Source: CoinGlass<\/figcaption><\/figure>\n<p>The liquidation data also featured other top altcoins particularly those with the steepest price surges. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/solana-next-after-ethereum-etf-approval-matrixport-co-founder\/\">Solana<\/a> (SOL) for instance recorded $23.28 million in liquidations, stemming from its more than 10% surge in price at its peak earlier today. At the time of writing, Solana is shedding some of its accrued gains, and is down 1.62% to $176.87.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>With the liquidations, it becomes obvious once again how impossible it is to decipher the volatility in the digital currency ecosystem. While Bitcoin, Ethereum, and Solana leads the liquidation terrain, other altcoins including Dogecoin, GALA and PEPE also recorded significant losses.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><strong>What Next For BTC and ETH Price<\/strong><\/h2>\n<p>There is an intense volatility in the crypto ecosystem with instability rocking the price Bitcoin. After soaring as high as $71,946.46, Bitcoin\u2019s price is now backtracking and is pegged at $69,664. Despite this receding price action, Bitcoin is still up 1.46% in 24 hours.<\/p>\n<p>Ethereum has remained largely resilient with an 18.41% surge at press time to $3,726.04. The coin is in the spotlight following the potential approval of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/spot-ethereum-etf-bloomberg-analysts-raise-approval-odds-to-75\/\">spot Ethereum ETF<\/a> products in the US. In a dramatic twist, Bloomberg ETF Analysts Eric Balchunas and James Seyffart raised their spot Ethereum ETF approval odds from 25% to 75%, hinting at likely approval this week.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>Reportedly, the staffs of the United States Securities and Exchange Commission (SEC) have told exchanges that it is leaning towards approving the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/spot-ethereum-etf-coming-this-week-sec-leaning-towards-approving\/\">Ethereum ETF<\/a> products. If this growing speculation is confirmed with approval of spot Ethereum ETF, the price of ETH and by extension Bitcoin might record more upsurge this week.<\/p>\n<p><strong>Read More: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/coinshares-valkyrie-funds-will-not-apply-for-a-spot-ethereum-etf\/\">CoinShares\u2019 Valkyrie Funds Will Not Apply For A Spot Ethereum ETF<\/a><\/strong><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p>                                <!-- \n\n<div class=\"desktopPostEnd d-on\"><\/div>\n\n --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/crypto-market-saw-374m-liquidated-as-btc-eth-rise-whats-next\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/crypto-market-saw-374m-liquidated-as-btc-eth-rise-whats-next\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA198034\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<div class=\"authodes\">\n<p>Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. 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The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/5-important-highlights-from-the-recent-fed-meeting\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" 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decoding=\"async\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/01\/cropped-shutterstock_1958528764_10-150x200.jpg 150w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/div>\n\n\n                \n\n<div class=\"Educontent\">5 Reasons behind Mega Bank\u2019s 2024 Ethereum Price Prediction <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n     \n                              \n          <\/div>\n\n\n    \n          \n \n    \n            \n    <\/div>\n\n        --><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto market has cleared off most of its outstanding deficits as Bitcoin (BTC) and Ethereum (ETH) lead the market\u2019s bullish recovery. At the time of writing, the combined crypto market cap soared by 8.91% to $2.59 trillion. Bitcoin and Ethereum Liquidation\u00a0 According to data from Crypto analytics platform CoinGlass, the combined market\u2019s liquidation value [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":288908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-306827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=306827"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306827\/revisions"}],"predecessor-version":[{"id":306830,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306827\/revisions\/306830"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/288908"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=306827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=306827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=306827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}