For the second time in the last week, more ETH was sold than Bitcoin. This happened when the price of Bitcoin fell below $3,200.
Coinglass data shows that $195.11 million worth of crypto has been liquidated around the world in the last 24 hours. Ethereum had the most liquidations, with $64.75 million. This was made up of $57.18 million in long positions and $7.57 million in short positions. Bitcoin came in second, with $46.74 million in liquidations, made up of $32.85 million in longs and $13.89 million in shorts.
Bitcoin Trails Ethereum in Liquidations
The rise in selling long positions happens at the same time that the global cryptocurrency market is correcting itself. In the last day, the market’s overall value dropped from $2.53 trillion to $2.46 trillion.
This is the second time in the last week that Ethereum’s sells have been higher than Bitcoin’s. On May 1, $91.76 million worth of Ethereum was liquidated, while $68.51 million worth of Bitcoin was liquidated.
Also, Coinglass data shows that the overall amount of crypto that people are interested in has dropped 2.12% in the last 24 hours, and is now at $57.17 billion. During the same time period, Santiment data shows that Bitcoin’s total open interest dropped from $10.45 billion to $10.21 billion. In the same time period, the price of BTC slipped 1.5% and is now selling at $64,200.
In the last day, Ethereum’s open interest also went down by 1.7%, ending the day at $4.89 billion. In the last 24 hours, Ethereum’s price dropped by 2.7%. It is now worth $3,110.
As the number of people interested in cryptocurrencies around the world goes down, prices for the most popular digital assets tend to become less volatile.
