🟢📈 Ethereum surges 3.0% — $5,562,140 liquidated

Ethereum climbed +3.0% in the past hour to $1,633 (+3.9% on the day).

In the last 60 minutes, $5,562,140 in leveraged positions were liquidated on Gate.io — $5,513,446 in longs and $48,694 in shorts (684 liquidations).

Market context

Ethereum experienced a notable upward move in the past hour, gaining 3.0% and reaching $1,633. This contributes to a broader 24-hour increase of 3.9%. The hourly price action saw significant liquidation volume on Gate.io, totaling over $5.5 million across 684 events. This suggests a period of heightened volatility and position closures as the price adjusted.

The overwhelming majority of these liquidations were long positions, accounting for approximately $5.51 million compared to only $48,694 in short liquidations. This substantial imbalance indicates that many traders holding leveraged long positions were flushed out as the price moved, even amidst a net positive hourly and 24-hour trend. Such a split often implies that a prior build-up of over-leveraged long positions was unwound during the price movement.

Chart: Ethereum 30-minute candles (Binance). This is not financial advice.