• BTC and ETH climbed over the $36,000 and $2,000 price range, respectively.
• BTC and ETH positions liquidation lead crypto market liquidations.

On 9th November, Bitcoin [BTC] and Ethereum [ETH] underwent significant price movements, propelling them into new price ranges. Consequently, the market witnessed a substantial increase in liquidations, accompanied by notable shifts in other metrics.

Bitcoin and Ethereum lead liquidations

CryptoRank reported that around $289 million in liquidations occurred across major derivative exchanges in the past 24 hours.

The surge in liquidated positions was mostly driven by Bitcoin and Ethereum, both experiencing monthly highs in prices. While other assets also observed price increases alongside BTC and ETH, the majority of liquidations came from these two assets. 

According to Coinglass, the breakdown of liquidated positions revealed that BTC accounted for over $167 million on 9th November. The short positions contributed to a liquidation of more than $127.5 million, while the short position was over $40 million.

Additionally, ETH witnessed a total liquidation of more than $80 million on the same day, per Coinglass.

Short positions liquidation was over $60.3 million, and long positions were over $21 million.

As of the current upd

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Author: Adewale Olarinde

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