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Crypto liquidations spike in pre-halving market volatility

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Market volatility has resulted in a substantial $152 million in cryptocurrency liquidations over the past 24 hours.

The wider cryptocurrency market has seen over $290 million liquidations in the past 24 hours. Of these liquidations, the majority — around $154 million — were long positions.

The largest digital asset by market capitalization increased by around 5.3% in the past 24 hours and was changing hands for $64,739 at 5:22 a.m. ET, according to The Block's Price Page. The GM 30 Index, representing a selection of the top 30 cryptocurrencies, has increased by 4.46% to 129.97 in the past 24 hours.Bitcoin's immediate post-halving response

A recent report from 21Shares gave analysis on the potential fluctuations in bitcoin's price due to the imminent halving event, taking into account the influence of significant geopolitical factors such as conflicts in the Middle East and control of oil transportation routes. In the report, 21Shares analysts predicted that bitcoin will likely continue in a lateral movement until there is more certainty regarding the current geopolitical concerns.

 

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