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$760M Liquidated From Crypto Markets As Bitcoin Reclaims $30,000 Level

By Samyuktha Sriram

Over 230,000 crypto traders saw liquidations worth $760 million over the last 24 hours.

What Happened: Bitcoin (CRYPTO: BTC) rose 10% over the last day to $30,400, as per data from Benzinga Pro. Ethereum (CRYPTO: ETH) was up 7.7%, trading above $2,000.

See Also: Bitcoin, Ethereum, Dogecoin Just Under Key Levels After Crypto Crash — Analyst Says Investors Vulnerable To 'One Last Plunge'

As the cryptocurrency market staged a recovery, major altcoins saw double-digit gains. Dogecoin (CRYPTO: DOGE) was up 20% and trading at $0.09, while Cardano (CRYPTO: ADA) and Avalanche (CRYPTO: AVAX) gained 22% and 16%, respectively.

The trend reversal proved unforgiving for traders that attempted to bet on a continued downtrend. According to data from Coinglass, Bitcoin saw $283 million worth of liquidations and Ethereum saw $130 million worth of liquidations.

Terra (CRYPTO: LUNA), the troubled sister token of the collapsed stablecoin TerraUSD (CRYPTO: UST), saw $37 million in liquidations over 24 hours.

ApeCoin (CRYPTO: APE) and Solana (CRYPTO: SOL) both saw over $14 million liquidated respectively, while DOGE saw $5.86 million liquidated.

Data shows that there was a near-even split in terms of long and short positions that were liquidated. Long traders lost $390 million and short traders lost $370 million.

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