Bitcoin’s price has surged above the $28,400 level, triggering $110 million in liquidations across the cryptocurrency futures market. The asset’s value has shot up since yesterday, reaching as high as $28,500. Other top assets in the sector have also seen rallies of their own.The crypto sector has seen many liquidations in the past day, with $134 million in contracts being flushed. Most of this was due to short contract holders, with $93 million of the liquidations occurring in the last 24 hours. Bitcoin was responsible for the highest share of liquidations, with around $56 million in contracts being flushed, while Ethereum was second with about $36 million. Solana and Chainlink saw the largest share among the rest of the sector, although at about $5 and $3 million, respectively.Mass liquidation events like today’s are not uncommon in the cryptocurrency sector due to the nature of the market. Coins can display quite the volatility, and an absurd amount of leverage can be easily accessible on most platforms, making the futures market a dangerous place to navigate for the uninformed trader.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	None
Companies	Solana, TradingView, Unsplash.com, CoinGlass, Chainlink
Currencies	Ethereum, Bitcoin, Chainlink, Solana
Securities	None