The price of Ether (ETH), the Ethereum Cryptocurrency, has reached a new historic maximum (ATH) of over $4,800 (USD). This has resulted in a large amount of liquidation that has not been seen in the past six months.
According to Coinglass data, in the ETH market, around US$284 million was recorded in bassists yesterday, with bullies’ positions of US$80 million, adding a total of US$364 million. In other words, Most liquidation affected investors betting on price declines.
Daily Graphic Evidence This Friday was the best of the last six monthsunexpected prices reflect the direct impact of rebounds by bear traders.
Cryptoactive, which increases the liquidation for the day, was ETH, as it rose to the new historic maximum price. Bitcoin (BTC)’s, meanwhile, was a bullish position of USD 67 million and a bassist position of USD 34, a small amount compared to typical behaviour.
This happens while BTC remains in the consolidation period after reaching US$122,000 last week.
Liquidation is the automatic position of the position when the market moves in the opposite direction to the investor bet. And this is left without margins to cover the losses.
Bassists are energized when prices rise and those who expect to fall suffer losses, but the Bulls affect the expected people and prices fall. This mechanism seeks to limit the risk of cryptocurrency derivatives.
The new ETH record reflects the strengths of the market and the growing interest of institutional and retail investors. However, these types of movements usually involve volatility, so as cryptographic reports, attention is focused on the next level of support and resistance in ETH, as well as the possibility of altcoins’ response to this impulse.
