Crypto Liquidations Totaled $713M in 24 Hours as Bitcoin Retreats to $102K

The crypto market experienced significant liquidations, totaling around $713 million, or about ₱39.7 billion, in the past 24 hours.

• $BTC topped the list with $201.09 million in liquidations, followed by $ETH at $162.93 million. 
• Among the meme coins, $DOGE had the highest with $29.08 million in liquidations, $MOODENG had $18.91 million, and $1000PEEP recorded $12.77 million.
• In addition, altcoins also saw massive liquidations, with $XRP leading with $31.24 million, followed by $SOL and $ADA, recording $18.64 million and $6.59 million, respectively.

This followed $BTC’s decline to $102,000 after surpassing the $105,000 level during the weekend.

Liquidation Breakdown in the Last 24 Hrs

• Total Traders Affected: 212,071
• Largest Single Liquidation: $11 million $BTC-$USD trade on crypto exchange Bybit
• Long Positions: $483.86 million in liquidations
• Short Positions: $230.03 million in liquidations

Exchanges’ Impact

• Bybit: $248.07 million (78.35% long positions)
• Binance: $213.98 million (63.38% long positions)
• OKX: $109.23 million (65.67% long positions)
• Gate.io: $79.42 million (62.91% long positions)
• HTX: $43.92 million (53.63% long positions)
• CoinEx: $8:49 million (64.83% long positions)
• Bitfinex: $1.60 million (93.25% long positions)
• Bitmex: $1.41 million (79.6% long positions)

U. S.-China to Pause Tariffs

$BTC, as well as major altcoins, dipped after the U.S. and China announced that they were scaling back the Draconian tariffs. 

• The U.S .and China agreed to suspend 24% tariffs for 90 days while retaining a 10% base tariff on goods.

BTC Consumer Price Index (CPI)

In a report from Cointelegraph, it noted that the CPI anticipation causes de-risking, with traders reducing exposure to Bitcoin ahead of the U.S. CPI data release on May 13.

• Bitcoin price tends to fluctuate sharply before and after CPI announcements due to uncertainty about inflation and interest rates.

Bitcoin Acquisition and Liquidations

As the value of the leading cryptocurrencies went up to their new all-time highs, entities increased their $BTC holdings. 

• Tokyo-based Metaplanet purchased another 1,241 $BTC, making its total holdings to 6,800 $BTC.
  • The firm noted that it aims to have 10,000 $BTC holdings by the end of the year. 
• Michael Saylor’s Strategy announced in its filing with the U. S. SEC, that it acquired 13,390 $BTC for $1.34 billion between May 5 and May 11.
  • This acquisition increased the firm’s total $BTC holdings by 2.4% to a total of 568,840 $BTC. 
• North Korea’s Lazarus Group reduced holdings from 13,562 $BTC (as of March 16) to 7,813 $BTC, a 5,749 $BTC drop.

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