Crypto Market Sees $267 Million Liquidation as Bearish Bets Falter

You can also read this news on BH NEWS: Crypto Market Sees $267 Million Liquidation as Bearish Bets Falter

The cryptocurrency market experienced a wave of liquidations totaling $267 million in the past 24 hours, according to Coinglass data. This impacted 64,522 traders, with short positions—bets against rising prices—being particularly affected in the latest four-hour window.

Massive Liquidations in the Last Four Hours

In the most recent four-hour period, global crypto liquidations reached $155 million. Short positions accounted for $140 million of this sum, in stark contrast to the $15.11 million racked up by long positions during the same timeframe.

The largest individual trade liquidation was noted on Binance‘s BTCUSDT trading pair, amounting to $11.96 million.

Moreover, a newly tracked wallet with the address 0xb15b on Lookonchain was liquidated five times in just the past hour, accumulating losses of $1.11 million over two days.

Iran–U.S. Talks Unaffected Despite Rumors

A Bloomberg report cited an unnamed diplomat involved in ongoing discussions between Iran and the United States. Contrary to rumors, the parties are not on the brink of sealing a deal, as had been reported elsewhere.

The source confirmed that negotiations have not been suspended but refrained from providing a timeline for any potential agreements or future discussion schedules.

Liquidation data highlights that the recent downturn primarily affected traders who had bearish outlooks. Meanwhile, the Iran-U.S. talks continue without any substantive progress, dispelling any immediate expectations of an imminent accord.