The pace of crypto market liquidity has not slowed down as the Bitcoin crash has dragged the rest of the market with it. Now that digital assets have crashed below $ 23,000, liquidity has grown rapidly. As of Monday, liquidations had quickly crossed 500 million. Before the end of the day, the number was over িয়ন 1 billion. Traders, both long and short, are suffering greatly as prices fluctuate.

Crypto liquidation is still bad

Crypto market liquidity, although it seems to be declining early on Tuesday, is just as bad. This is because despite falling below $ 1 billion, the price of Bitcoin has not produced any significant support, indicating that more crashes are coming. This means that liquidation is bound to continue.

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Currently, the liquidation number is sitting at $ 907 million at the time of this writing. Due to the fall in prices, most of it is still from long traders, small traders are not far behind. Coinglass notes that about 52% are from long traders, which means the remaining 47% to 48% are from short traders.

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Naturally, most of the liquidation has been from Bitcoin. Leading cryptocurrencies have seen more than 60 460 million in liquidity in the last 24 hours. Ethereum, on the other hand, has also liquidated large positions worth 4 294.72 million.

Bitcoin price chart from TradingView.com

BTC trading at low $22,000s | Source: BTCUSD on TradingView.com

Although the number of abandoned traders during this period remained around 200,000. The largest single liquidation is coming from the Bitmax exchange for $ 4.46 million.

The worst liquidation in recent history

There is nothing to write home about current market trends. All the charts are bleeding and investors are losing money right, left and center. It has become the biggest and worst single liquidation event in recent history.

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It comes on top of the December 4 liquidation that saw more than 100,000 merchants leave. However, it was nothing compared to what happened on Sunday. More than $ 500 million has left the market in the last 12 hours alone, a statistic that would be considered too high in a 24-hour period.

Altcoins like SOL, ADA and BNB have also increased their liquidity in the last 24 hours. This speaks to the market-wide crash that rocked the entire market, although digital assets like Cardano have held up nicely in terms of price.

Featured image from NewsBTC, chart from TradingView.com

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