Future bets against the highest cryptography prices lost more than $ 500 million in the last 24 hours as a higher increase, driven by possible cooling of China’s tariffs by the United States, led to the largest short liquidations since October.
Bitcoin (BTC) increased from a minimum of Tuesday from $ 88,000 to more than $ 93,500 in Asian hours of the morning, as shown in the data, leading a jump in the largest market with Ether (ETH), ada of Cardano and Dogecoin (Doge) by 14%. Sol and XRP of Solana increased 7%, with all the chips in the top hundred by market capitalization in the green.
Meanwhile, the Sui Network SUI, the University of Uniswap and the nearby protocol showed strength with profits of up to 18%. Memecoin Mog (MOG) shot at 30%, continued his tendency to act as a beta bet for ETH movement.
Almost $ 530 million in shorts, or betting in lower prices, losses reserved in the middle of a general unemployment of leverage bets. The data show that most short liquidations took place in Bybit at $ 234 million, followed by Binance at $ 100 million and Gate at almost $ 70 million.
The largest individual settlement order occurred in Binance, a position of future ETS that was worth more than $ 4.5 million.
The liquidations occur when an exchange closes the leverage position of an operator due to a partial or total loss of the initial margin of the operator. It occurs when a merchant cannot meet the margin requirements for an leverage position, that is, when it does not have enough funds to maintain open trade.
An increase in cryptographic occurred when Trump said he planned to be “very pleasant” for China in any commercial conversation and that tariffs will decrease if the two countries can reach an agreement, a sign that can moderate a cautious feeling in progress among merchants.
“The fears of an increasing commercial war have decreased as merchants see largely to the United States and China reaching a commercial agreement in the coming weeks,” said Jeff Mei, director of Operations of BTSE, to COINDESK in a telegram message. “It remains to be seen if this will be temporary or not.”
“But what we have been shown in the last two weeks is that the probability of target cuts and an American depreciation dollar are high, which explains Bitcoin’s increase. If the US dollar is weakening, there are not many other coins to resort to so many other countries can also depreciate their coins. This could make a path for Bitcoin to become a large value store,” Mei added.
