In the past 12 hours, $192 million has been liquidated across the entire network, mainly short positions
Golden Finance reports, according to Coinglass data, as Bitcoin rebounded and momentarily broke through $85,000, the crypto market welcomed a correction. In the past 12 hours, liquidations across the network totaled $192 million USD; of this amount, long positions accounted for $54.66 million USD in liquidations while short positions accounted for $137 million USD.
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Asia-Pacific stock markets follow the overnight rally in US tech stocks, with South Korea's KOSPI up 5% at the open, SK Hynix surging more than 7%, and Nikkei 225 rising over 2%.
This round of rebound occurred after the market experienced severe turbulence. Last week, concerns over the potential for stricter regulation of the artificial intelligence industry, due to the US Congressional election results, triggered a large-scale sell-off in chip stocks. Several market participants believe that this rebound indicates investors have not abandoned the AI trading narrative, and last week’s sell-off was more about position adjustments rather than a trend reversal.
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