Bitcoin and Ether take the lead in the liquidation heatmap, with over $335 million in positions liquidated in the past 12 hours.
Bitcoin (BTC), ether (ETH), sol (SOL), and various major altcoins kicked off the Asia trading day in decline, experiencing volatility as the week commenced. Bitcoin saw a 5% dip, reaching as low as $41,300 within 24 hours, but rebounded to $42,000. Ether hit a low of $2,170 before recovering to $2,239, while Solana dropped to $66 before climbing back to $70. These fluctuations occurred predominantly in the last 90 minutes leading up to the current press time. The CoinDesk Market Index (CMI) is down 4% at 1,743. Coinglass data reveals liquidations exceeding $335 million in the past 12 hours, including $300 million from liquidated long positions.
Bitcoin and Ether dominate the liquidation heatmap, with more than $89 million in bitcoin positions and $74 million in ether positions being liquidated. On-chain analyst Willy Woo has suggested on X that the market could experience a correction, potentially driving bitcoin prices down to $39,700.
