Bitcoin and altcoin surge leads to $470 million in liquidations

The largest cryptocurrency liquidation in six months occurred recently after Bitcoin faltered and retreated before hitting the $100,000 mark.
On the 24th (local time), Bitcoin increased by approximately $470 million (approximately 72.2 billion yen) in 24 hours.
) worth of cryptocurrency positions were liquidated, of which long positions were liquidated for $352.6 million (approximately JPY 54.1 billion) and short positions were liquidated for $119.9 million (approximately JPY 18.4 billion).
According to data from Coinglass, the majority of liquidated positions were in altcoins.
Bitcoin and Ethereum recorded a combined liquidation volume of $108.9 million
DOGE recorded $33.1 million, XRP $27.6 million, and Stellar $21.6 million.
Solana, Sandbox, Polkadot, and Cardano also made it into the top five with large liquidations.
These notable altcoins from 2020 to 2021 performed better than expected between November 23 and 24, with Stellar (XLM) recording a record high of up to
The latest price surge has pushed Dozicoin to its highest price since May 2021, when it was trading at $1.5 billion, according to data from CoinGecko.
This was around the time that Ethereum Coin hit an all-time high. Industry analyst Miles Deutscher said investors who had not used their crypto wallets for a long time since the last market cycle were investing in the cryptocurrency.
Other experts believe the current market shows a barbell structure, with Bitcoin and meme coins gaining ground.
He noted that the situation is worrying, with some utility tokens still trading below their fair value.