Crypto market rebound liquidates over $200M

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  • January 26, 2023

The crypto industry’s mild recovery over the last 24 hours has liquidated $212 million from the market, according to Coinglass data.

Over the reporting period, the crypto market posted a 2.85% gain — pushing the value of flagship digital assets like Bitcoin (BTC) and Ethereum (ETH) above $23,000 and $1,600, respectively, again.

BTC accounted for $80.70 million in liquidations, while Ethereum contributed $48.81 million. High-flying layer1 blockchain network Aptos (APT) liquidated $31.61 million in short positions against it.

During this period, the market recovery liquidated 50,517 traders — the most significant liquidation being a $3.85 million position on BTC.

Meanwhile, blockchain analytical firm Santiment pointed out several altcoins ascending over the reporting period. Santiment said:

“Social spikes & FOMO may cause a top, or traders will scoff at this run (allowing rallies to continue).”

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