Latest news with #liquidations
Yahoo
6 days ago
- Business
- Yahoo
Ether, XRP Traders Book Bigger Losses Than Bitcoin as Crypto Bulls See $630M in Liquidations
A sharp pullback across crypto markets on Tuesday triggered nearly $735 million in liquidations with bulls bearing the brunt. Ether (ETH) and XRP (XRP) tracked futures bets booked larger losses than bitcoin in an unusual move, indicative of the higher interest toward altcoin traders in the past week. CoinGlass data shows ETH traders lost $152.78 million, the largest for any asset, followed by $88.58 million in liquidations for XRP. Bitcoin (BTC) came in third at $65.29 million, despite its larger market cap and deeper liquidity. While price action across the majors was mostly down by only a few percentage points, the high leverage used by retail traders in altcoins likely amplified their losses. In total, $625.5 million of the liquidations were on long positions, suggesting the selloff caught many bulls off guard after weeks of upward momentum. Other heavily hit tokens included Solana's SOL at $41 million, dogecoin (DOGE) at $40 million, and smaller DeFi tokens like SPK and PUMP seeing over $10 million in positions wiped. The absence of a clear catalyst and profit-taking near key resistance levels may have exacerbated the selloff. Ether had recently flirted with the $4,000 mark while Bitcoin traded above $118,000 — levels that had already prompted profit booking from larger wallets. As of writing, ETH is down roughly 3.6% on the day to trade near $3,540, while XRP fell 6% to $3.25, extending its weekly loss to over 12%. Bitcoin fared better, slipping just under 2% to hover around $116,800. Crypto liquidations occur when leveraged positions are forcibly closed due to a price move beyond a trader's margin threshold. This typically results in major losses and can trigger cascade effects during volatile moves. Traders use liquidation data to gauge market sentiment and positioning. Large long liquidations often signal panic bottoms, while short liquidations may precede a squeeze. Spikes in liquidations also help identify overcrowded trades and potential reversals. When paired with open interest and funding rate data, liquidation metrics can offer strategic entry or exit points, especially in overleveraged markets prone to sudden flushes or rallies. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
RNZ News
7 days ago
- Business
- RNZ News
Construction firms offering large discounts to avoid collapse
Photo: Construction companies are struggling to stay afloat as orders dry up amid tough economic times, with some slashing quotes by as much as 50 percent to get whatever work they can. Latest data from the Building Research Association of New Zealand showed that liquidations in the construction sector rose 37 percent in February year on year, accounting for 31 percent of all liquidations nationwide. Latest figures from the Ministry of Business, Innovation and Employment (MBIE) showed a similar trend. The number of businesses with an MBIE construction code that had a liquidator appointed nearly doubled for the year ending 30 June 2023 compared to the previous year, climbing from 210 in 2022 to 416. By the end of June 2025, 687 companies with an MBIE construction code had a liquidator appointed, marking a more than threefold increase in just three years. Amid the sharp rise in closures, some Chinese construction firms had resorted in cutting quote prices and squeezing already tight margins to stay in business. Henry Wang, a former carpenter who had worked in the construction industry for eight years and now ran his own business, said pay rates for carpentry work had dropped sharply compared to the industry's recent peak. "The market was booming from 2020 to 2022," Wang said. "At that time, a carpenter could earn around $150 to $160 per square meter on a residential build. However, now payments have fallen by as much as 40 to 50 percent." Photo: Supplied/ Unsplash - Josh Olalde Wang said he began feeling the pressure in 2023, as layoffs started to spread across the construction sector and available work began to dry up. Wang, who worked for a Chinese construction firm, recalled long hours during the boom years. "We used to work from 7am to 6pm - sometimes even until 7pm - including Saturdays when business was really busy," he said. "But gradually, the company could only guarantee three days of work a week," he said. "By the end of 2023, they started cutting staff because there simply wasn't any work left." He estimated that between 60 and 80 percent of the workers at his former company were made redundant. He eventually left as well, citing a lack of available work. Now the owner of a small construction firm with six employees based in Auckland, Wang said most of his clients were in the commercial building sector. He remains cautious about the sector's outlook. "I'm not optimistic about the market this year or even next year," he said, noting that the project pipeline heading into 2026 is alarmingly thin. Wang said the downturn had triggered a destructive price war in the industry, which he found deeply concerning. "There isn't much work out there," he said. "A lot of companies are dropping their quote prices. Some are even slashing them by half just to win clients and stay in business. All I can do is hang in there and try to survive these next two years." Photo: RNZ Steven Jin, director of commercial fit out company Unique Constructions, felt the same pressure. Jin started his business in 2010, recalling a boom period between 2016 and 2018, when a surge of Chinese restaurants and retail shops opened across the market. However, that momentum faded quickly. Business confidence took a hit during the Covid-19 pandemic, and his project volume started dropping sharply from 2023. "Compared to 2018 and 2019, our business volume fell by more than 60 percent in 2023 and 2024," he said. Jin described the current construction market as bleak, noting that many contractors he had worked with had also been forced to slash their quote prices to remain competitive. "It's very challenging to do business right now," he said. "We're squeezing margins, sometimes down to just 5 percent or even operating at no profit at all. But we have no other choice. With the market like this, the only way to compete is on price." Jin said he didn't expect the market to rebound this year. For now, his goal is simple: Survive and stay afloat. "Everyone is competing against each other," he said. "Even big construction companies, their goal is to survive and avoid liquidation." Fletcher Building announced Wednesday it was considering the sale of its construction division assets following a strategic review of the business. Julien Leys, chief executive of the Building Industry Federation Photo: Supplied Julien Leys, chief executive of the Building Industry Federation, said New Zealand's building sector was largely made up of small businesses, typically employing between three and five people. He said Asian-owned construction companies accounted for roughly 22 percent of the market, contributing as much as $48 million per month in construction activity in the Auckland region. Leys said Asian construction companies were facing the same challenges affecting developers across the country, including a slowdown in residential property sales. "It's just a fact that we're seeing a downturn across the sector," he said. "People are finding it harder to get work, particularly those smaller builders." Leys said while the construction sector might see an uptick in activity by the middle of next year, the current market remained challenging. "There's still uncertainty that is affecting people making decisions about whether to start a build or a project," he said. "That uncertainty means all the subcontractors and contractors involved in those projects don't get work. "Right now, what we're seeing is that their order books - where they'd usually have an actual pipeline of activity for the next 12 months to work on - pretty much there's nothing in it." According to the latest building consent data from Stats NZ, 33,530 new dwellings were consented in the year ending on 31 May, a 3.8 percent decrease against the same period in 2024. Gareth Kiernan, chief forecaster at Infometrics Photo: RNZ / Rebekah Parsons-King Gareth Kiernan, chief forecaster at Infometrics, said New Zealand experienced a residential construction boom in 2022, with approximately 51,000 consents issued, driven by surging house prices and historically low interest rates. However, he said it had since become much more difficult for developers to bring projects to market at a cost buyers were willing to pay. House prices fell substantially through 2022 into 2023, while interest rates and building costs continued to climb over the same period, he said. "Residential construction firms and the businesses supplying materials expanded their capacity a lot during the boom to meet demand," Kiernan said. "But now, there's just too much capacity across the industry, and that's causing issues for firms and leading to those liquidations." Kiernan said net migration shifts had also contributed to the softening of the housing market. "There was an undersupply of housing, particularly in Auckland," he said. "We haven't been able to keep up with demand through much of the last decade. "We had a migration boom initially when the borders reopened in 2023. But that's slowed away again, and now the housing market is still pretty soft. "Potentially, over the next year or so, we could be starting to move into a position with the housing market rather than being undersupplied to actually oversupplied. Meanwhile, Kiernan said a downturn in non-residential construction had emerged over the past six to nine months, as broader economic weakness began to weigh on commercial developments, adding further pressure across the sector. "Previously, commercial building was still holding up relatively well," he said. "But now we're seeing a flat to downturn in residential construction, and a downturn emerging in commercial building as well." Ankit Sharma, chief executive of the Registered Master Builders Association Photo: Supplied Ankit Sharma, chief executive of the Registered Master Builders Association, said builders nationwide, particularly small and family-owned firms, were under significant financial strain, driven by tightening profit margins, escalating costs and, in many cases, a lack of forward visibility. Sharma said residential activity expectations were beginning to lift in some regions. "We're starting to see early signs that the tide may be turning," he said. "In some regions like Central Otago, builders are telling us they're as busy as they've ever been." However, Sharma said the recovery remained uneven, particularly across parts of the upper North Island, including Auckland, where the pipeline of new work remained uncertain. Still, he said momentum was beginning to build. "Government initiatives such as the Investment Boost scheme and proposed procurement reforms are welcome steps that could help unlock activity and give firms greater confidence to invest," he said. Kiernan said the construction sector would eventually adjust to more sustainable levels of activity. "It's a case of almost like much of the rest of the economy," he said. "Things were really overheated in 2021 to 2022, and now it's kind of needing to move back, or consolidate back to what are more sort of sustainable levels of activity that can be kept going over the medium term."
Yahoo
14-07-2025
- Business
- Yahoo
Bearish Bitcoin Trader Loses $92M as Surge Wipes Out $426M in Short Liquidations
More than $680 million in crypto positions were liquidated over the past 24 hours with short traders taking the bulk of the pain as a bitcoin (BTC) breakout above $121,000 triggered a chain reaction across derivatives markets. Roughly $426 million of the total liquidations came from bearish bets, according to Coinglass data, making it one of the largest weekend liquidation events in recent months. The largest single order, a $92.5 million BTC short, was flushed on HTX. BTC alone saw $291 million in forced closures, with futures tracking ether (ETH) and XRP (XRP) following at $68 million and $17 million, respectively. XLM (XLM) and pepecoin (PEPE) also posted elevated activity, signaling that the squeeze extended deep beyond major tokens. Meanwhile, dogecoin (DOGE), Solana's SOL (SOL), and SUI (SUI) saw rising open interest, though with relatively smaller drawdowns, indicative of higher spot-based demand. Liquidations occur when traders using leverage are forced to close their positions due to margin calls. While they often signal excessive positioning, they also serve as a reset mechanism for markets, flushing weak hands and clearing the way for new directional flow. Bitcoin's rally in the past week has sparked a broader breakout across major crypto assets. Traders say that market structure is evolving under the weight of institutional influence — with eyes on the $130,000 mark in the short in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-06-2025
- Business
- Yahoo
SHIB Long-Short Ratio Slides as Over $1.8M in Bullish Bets Liquidated
A key indicator is flashing red for shiba inu (SHIB) as the recent price drop to two-month lows has shaken out leveraged bullish bets. The indicator in consideration is the long-short ratio derived from the perpetual futures market. It measures the number of active longs or bullish bets relative to shorts, providing cues on market sentiment. The ratio has dropped to 0.9298, indicating bearish sentiment among traders, according to CoinDesk's AI insights. This follows the forced closure or liquidation of long positions worth over $1.8 million since June 12, according to data source Coinglass. Exchanges liquidate positions due to margin shortages. The dollar value of the shorts squeezed out during this period is less than $500,000. Over the past 24 hours, the derivatives market has exhibited growing caution, with open interest decreasing by 2.14% to $145.33 million and long liquidations surging to $244,000, compared to just $57,000 in short liquidations. SHIB's price has dropped by 10% to $0.00001164 since June 12, according to data source CoinDesk. The minor recovery from Tuesday's two-month low of $0.00001134 is providing bullish hints on short-duration price charts. SHIB continues to hold support above the critical $0.00001100 level, indicating a potential trend reversal. Technical analysis reveals a minor bullish divergence in the daily RSI, with MACD and signal lines approaching a bullish crossover that could propel SHIB toward the 23.60% Fibonacci level at $0.00001390. Above-average volume confirmed buyer interest with the closing price of $0.00001170, suggesting stabilization above critical support. Hourly RSI indicates oversold conditions, potentially setting up for a technical bounce if the $0.00001168 support level holds.
Yahoo
01-06-2025
- Business
- Yahoo
Crypto Bulls Rack up $600M Liquidations as Bitcoin Drops Under $104K
Crypto markets saw a wave of liquidations in the past 24 hours as bitcoin (BTC) prices slipped under $104,000, triggering over $600 million in forced closures of bullish futures positions to mark the highest losses since February. A total of $688 million in liquidations hit traders, with 89% of them on the long side — reflecting a heavily bullish market. The largest single liquidation order was a $12.25 million BTC/USDT on OKX, Coinglass data futures led losses at over $153 mmillion, followed by Ethereum (ETH) at around $122 million. Solana (SOL) faced liquidations totaling about $33 million, XRP futures at $30 million, and Dogecoin (DOGE) futures at over $22 million. "Markets went red on Friday on renewed tariff-related apprehensions," said Alex Kuptsikevich, chief market analyst at FxPro, in an email to CoinDesk. U.S. President Donald Trump accused China of violating a bilateral trade deal, prompting him to double tariffs on steel and aluminum to 50% to protect domestic industries. He claimed China reneged on a May agreement to ease trade tensions, adding that he might discuss the matter with President Xi. While China is a top steel exporter, most of its steel is already subject to existing tariffs, per Reuters. Trump's move rattled global trade markets, with potential implications for key minerals and overall relations between the two nations. The broader crypto market was also swept by the sell-off, with Ether down nearly 4%, XRP and Solana falling around 4-5%, and Dogecoin diving over 8% on the day. Data from Deribit shows open interest in Bitcoin futures has surged 51% since April, with options up 126%, signaling increasing investor appetite for leverage. But whales — large holders with more than 10,000 BTC — have shifted from accumulation to net selling, sending coins back to exchanges in a classic sign of profit-taking. A cascade of liquidations often indicates market extremes, where a price reversal could be imminent as market sentiment overshoots in one direction. Still, the renewed tariff flare-up, combined with a jittery derivatives market, has traders bracing for more volatility ahead. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
