• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Crypto

Fed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million

Best Owie by Best Owie
5 months ago
in Crypto, Ethereum
Reading Time: 3 mins read
Advertisement

The FOMC meeting held on Wednesday and its subsequent results deeply affected the state of the crypto market. Given the large swings in price during and after the meeting, liquidation volumes had quickly risen across the market. Tens of thousands of traders were caught in the crossfire in what has come out to be the largest liquidation trend in the last few months. 

Crypto Liquidations Reach $330 Million

On Wednesday, the Fed had announced that it was raising interest rates by another 0.75 points. This decision directly impacted the crypto market as well as the broader macro markets, causing the price of bitcoin to plummet about 8% before a swift recovery.

Related Reading: Bitcoin Dumps After Revisiting June Lows, Where Does The Bottom Lie?

The decline triggered massive liquidations across the market. By Thursday, the total liquidation in the crypto market had crossed $330 million, with more than 88,000 traders affected. Given the decline, long traders had obviously suffered the most, but since the price had seen sharp recoveries too, short traders were also hit heavily. 

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Crypto market liqudiations

Liquidations cross $330 million | Source: Coinglass

Of the $336 million in liquidations recorded in the last day, 58.96% were from long traders, meaning $138.13 million were from short liquidations. The largest single liquidation came from the Okex exchange, with a single trade worth $3.13 million across the BTC-USDT-SWAP pair.

Ethereum Takes The Lead

In recent times, the focus has been on Ethereum after the digital asset had successfully upgraded from proof of work to proof of stake. This increased attention has amplified the performance of the cryptocurrency and its traders in recent times as well.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

ETH liquidations made up almost half of the $336 million in liquidations recorded across the crypto market in a 24-hour period. With 117.73K ETH liquidated, it came out to a dollar value of $151.45 million during this time.

Crypto total market cap chart from TradingView.com

Market cap at $884 billion | Source: Crypto Total Market Cap on TradingView.com

In contrast, the leading cryptocurrency, Bitcoin, recorded a total of 5.50K BTC liquidated during this time period for a total of $105.31 million. This means that ETH liquidation volumes came out to about 50% more than that of BTC.

Related Reading: Prepare For Volatility: Data Suggests Bitcoin Gets Chaotic During FOMC Meetings

XRP was another token that saw massive liquidations, although to a lower extent compared to bitcoin and Ethereum. XRP saw $9.77 million in volume, while SOL and ETC reached $6.73 million and %5.61 million, respectively. All other cryptocurrencies saw liquidation volumes below $5 million.

Featured image from The World Economic Forum, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Tags: bitcoinbtccrypto liquidationsETHethereumliquidationsmarket liquidations
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Best Owie

Best Owie

Related Posts

Ethereum

Ethereum Burning Reaches New High, Is ETH Warming Up For Another Rally?

3 days ago
Ethereum Bear

Ethereum Bearish Signal: Profit-Taking Hits Highest Level Since Feb 2021

3 days ago
Twitter APIs

Twitter Scraps Free API Access, Crypto Developers Must Pay

4 days ago
Ethereum

Total Ethereum (ETH) Staked On Lido Finance Reaches New Milestone

6 days ago
Grayscale Bitcoin Trust

Here’s What Might Have Triggered Ethereum’s Decline Below $1,600

2 weeks ago
Number Of New Ethereum Validators Remains Flat Ahead Of Shanghai Upgrade

Number Of New Ethereum Validators Remains Flat Ahead Of Shanghai Upgrade

2 weeks ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Investors in Cardano (ADA) And Solana (SOL) Are More Interested In Flasko (FLSK) Presale

February 6, 2023

QIE Wallet & Web 3 Banking – The Entry Point to QI Ecosystem

February 6, 2023

Why Orbeon Protocol (ORBN) Is the Next Big Opportunity for Bitcoin (BTC) and Ethereum (ETH) Investors

February 6, 2023

The Best Online Brokers Recommend Snowfall Protocol (SNW), EOS (EOS), and Ethereum (ETH)

February 6, 2023

Ripple (XRP) and Cardano (ADA) Stall While Snowfall Protocol (SNW) Dominates The Crypto Market

February 6, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.