Bitcoin surged past $64,000 in the early hours today, but quickly fell back to the $59,000 range. It has since rebounded to $61,250. This sudden rise and fall has caused significant volatility in many altcoins.
According to data from Coinglass, the total amount of liquidations in both long and short positions across the entire network in the past 24 hours exceeded $700 million. The largest single liquidation occurred in the BTC perpetual contract on OKX, with a liquidation amount of up to $9.45 million.
