Ibahagi ang artikulong ito
Bitcoin Crosses $24.7K, Sees Highest Liquidations in Two Months
The largest cryptocurrency was trading at just over $24,700 during the Asian morning hours on Tuesday.
Bitcoin added over 11% in the past 24 hours to trade above $24,700 on Tuesday, retracting all losses from over the weekend and setting a three-week high.
The movement possibly came as a surprise to traders who may have otherwise bet on declining prices after two key crypto-friendly banks were shut last week and USD coin (USDC), a major stablecoin, depegged from the U.S. dollar.
STORY CONTINUES BELOW
Huwag palampasin ang isa pang kuwento.Mag-subscribe sa Crypto Daybook Americas Newsletter ngayon. Tingnan lahat ng newsletter
Over $100 million worth of bitcoin shorts, or bets against a rise in prices, was liquidated on Monday. This was the highest liquidated amount since Jan. 14 when a bitcoin surge caused $500 million in liquidation across several crypto futures.
Monday’s liquidations meant 78% of all bitcoin futures traders took on losses, data from Coinglass shows. The losses were spread mainly over crypto exchanges Binance, OKX, Huobi and Bybit.
Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).
Large liquidations can signal the local top or bottom of a steep price move, which may allow traders to position themselves accordingly.
Bitcoin prices rose as U.S. bank stocks dropped steeply on Monday, exacerbated by fears of a similar bank run on regional outlets following last week’s collapse of Silicon Valley Bank.
As such, data suggests the price action was spot driven. As of Tuesday, open interest on futures remained below Mar. 9 levels, when bitcoin traded above $23,500, even as bitcoin retraced all losses – implying the price action was led by investors purchasing bitcoin instead of being futures driven.
Elsewhere, crypto exchange Binance said Monday it would convert $1 billion of its native Binance USD (BUSD) stablecoin to bitcoin, ether , BNB coin and other unspecified tokens – which also likely contributed to the price rise.
Meanwhile, Asian companies mirrored the U.S. market movement on Tuesday's open – as the Asia Dow fell 2.2%, Japan’s Nikkei 225 fell 2.5% and Hong Kong’s Hang Seng shed nearly 1%.
Higit pang Para sa Iyo
Ano ang dapat malaman:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
