BTC and ETH liquidations drop considerably in February
- So far, 2023 has been positive for the crypto industry, as Bitcoin and Ethereum are up year to date, 43%, and 37%, respectively.
- Liquidations were rather muted in 2022 compared to 2021. However, notable events such as FTX and Luna collapse drove liquidations up meaningfully but nothing compared to 2021.
- So far, in 2023, roughly 62,000 Bitcoin have been liquidated, while the majority of Bitcoin was liquidated in January (66%).
- While Ethereum has seen roughly 987,000 ETH liquidated year-to-date, 75% come from liquidations in January (742,000).
- This would make sense, as January saw BTC rise 40% and only 1% in February, meaning it was a month of consolidation.
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