Key points
Despite the coinglass data showing $ 2.34 billion in 24 hours, the real amount is higher. The Bitcoin price returned over $ 98,000, after recent sales on the market. Despite a massive sales on the Crypto market, the price of Bitcoin climbed over $ 98,000, after previously dropped to $ 92,000 levels.
Bitcoin trades over $ 98,000
At the time of writing this article, the BTC is traded over $ 98,000, registering an increased price increase. Earlier today, the BTC has dropped to $ 92,000 levels and now a price increase from about $ 94,000 has started at current levels over $ 98,000, registering 2% increase in less than an hour.
The price of BTC in USD today The last liquidation event could have represented a good opportunity for some entities to buy BTC cheaper, while new reports by X have announced that Crypto Czar of President Trump, David Sacks, will support an Press conference tomorrow about the security of America's management in Crypto ecosystem – a step that brings a renewed optimism in the industry. Also, according to NYT, the President of Mexico said that the new fares imposed by the US on Mexico will be suspended for a month starting today, following new agreements with Trump. Trump's rates were the main catalyst for recent crypto liquidations.
Real Crypto liquidations exceed $ 8- $ 10 billion
Although Coinglass data shows that 24 -hour crypto liquidations are around $ 2.35 billion, with $ 1.91 billion in long positions and over $ 438 million in short positions, the real figures could be much higher, according to the latest data.
Data Coinglass CEO Bybit, Ben Zhou, said in a post by X earlier today, that the real Crypto liquidations exceed the officially listed amounts, reaching levels between $ 8 billion and $ 10 billion.
Ben Zhou on X said that only the 24 -hour liquids of Bybit were around $ 2.1 billion, although Coinglass data showed the liquidation somewhere around $ 333 million.
Ben Zhou on X-Data Coinglass he explained that the EXCHANGE has an API limitation on how many flows are sent per second, and other exchanges practicing the same to limit the liquidation data.
Bybit official data, therefore, the data disclosed by coinglass are not the real data on Crypto liquidations, as The Kobesi Letter also reported. The team again stressed that the Crypto industry has witnessed the largest liquidation event in history. Most digital assets decreased between 20-30% last night. Now, XRP is still down by 15%, soil, 12%, and Dogs by 18%. However, the price of Bitcoin returned after a decreased decrease earlier today, fueled by optimism related to the future.