Cryptocurrency Market Volatility Surges…Liquidation Reaches $1.2 Billion in 24 Hours

Following the hawkish remarks by Jerome Powell, the Federal Reserve Chair, last Thursday, the volatility in the cryptocurrency market has sharply increased, leading to a surge in liquidation positions in the perpetual futures market.

According to CoinGlass data on the 20th (local time), the 24-hour liquidation amount is approximately $1.23 billion, with $1.06 billion being long positions.

The exchange with the most liquidations was Binance, with $548.95 million in liquidations, 86.78% of which were long positions.