Cryptocurrency Futures Market Liquidation Reaches 858 Billion Won on the 23rd
Predominant Liquidation Position 'Short'... Altcoins Demonstrate Rising Trend
Trump "Powell Has No Intention to Fire, Hopes for Rate Cut"
Experts "Cryptocurrency to Continue Rising Following Asian Market"
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On the morning of the 23rd, multiple cryptocurrencies experienced a sharp rise in the futures market, resulting in numerous short positions being liquidated.
According to cryptocurrency media Coinpedia, the cryptocurrency futures market liquidation reached approximately $610 million (about 858 billion won) on the 23rd. The largest liquidation occurred on Binance with Ethereum (ETH) short betting liquidation, amounting to about $4.3 million.
With the large-scale short betting liquidation in the cryptocurrency market, Bitcoin's sharp rise, and the vibrant cryptocurrency market on the morning of the 23rd, multiple altcoins rose by more than 5%, including Ethereum's approximately 11% surge from the previous day.
Experts believe the cryptocurrency market is now gaining momentum. This is due to the resolution of asset market fears as former US President Trump expressed his intention to resolve conflicts with Federal Reserve Chair Jerome Powell, and the Asian market is set to open on the 23rd.
At the SEC Commissioner Paul Atkins' inauguration speech on the 22nd, Trump stated, "I have no intention of firing him" and "I hope he becomes more proactive about the idea of rate cuts." Following Trump's comments, the Dow Jones Industrial Average, S&P 500, and Nasdaq indices rose by approximately 2.66%, 2.51%, and 2.71% respectively.
Reporter Seung-won Kwon ksw@blockstreet.co.kr
