Large Short Position Liquidations in Trump Rally... Approaching $100 Million in the Last Hour

Volatility in the cryptocurrency market is rapidly increasing ahead of the inauguration of U.S. President-elect Donald Trump.

According to CoinGlass data on the 20th (local time), the liquidation amount of cryptocurrency perpetual futures positions in the last hour is approaching $100.32 million. Among them, the proportion of short positions is a staggering 78%, suggesting that large-scale liquidations occurred as Bitcoin hit a new high due to the Trump-induced rally.

The exchange with the most position liquidations was Binance, with $28.31 million liquidated, followed by Gate.io ($22.38 million), OKX ($20.06 million), and Bybit ($15.20 million).