The liquidation of margin positions by traders on major cryptocurrency exchanges due to fluctuations in cryptocurrency prices exceeded $430 million over the past 24 hours. According to Coinglass data, more than 146,000 orders with a total value of over $118 million for Bitcoin and over $75 million for Ethereum were forcibly closed. The largest individual forced closure, amounting to $14.76 million, occurred on the OKX exchange in the BTC/USDT pair.
On November 9, the price of Bitcoin (BTC) reached an annual high of $37,974 but soon corrected below the $37,000 level. As of 9:40 AM Moscow time, the leading cryptocurrency is trading at $36,627 against the Tether USD (USDT) on the Binance exchange. BTC has seen a price increase of over 6% in the past week.
The second-largest cryptocurrency, Ethereum (ETH), showed more significant growth. Following reports of BlackRock filing for the registration of an Ethereum exchange-traded fund (ETF), the price of ETH surpassed $2,000 for the first time since April. The coin is currently trading at $2,115, experiencing an almost 10% price increase within 24 hours.
