Article5 months ago

Crypto Market in Flux as Bitcoin and Ethereum Reach New Heights, Triggering Record Liquidations

Crypto Market in Flux as Bitcoin and Ethereum Reach New Heights, Triggering Record Liquidations
Summary
  • Bitcoin and Ethereum reached new all-time highs on November 9th, driving up their prices substantially.
  • This surge in prices led to a notable increase in liquidations, resulting in around $289 million in liquidated positions across major derivative exchanges.
  • Bitcoin accounted for over $167 million in liquidated positions, while Ethereum saw over $80 million in liquidations. Additionally, the funding rates for both cryptocurrencies reached record highs, indicating trader confidence in future price increases.

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