On December 19, the volume of forced liquidations in the cryptocurrency market reached $1.01 billion, including $844 million in long positions, according to Coinglass.
The current figures were surpassed by events on December 5 ($1.1 billion) and December 10 ($1.7 billion).
Altcoins accounted for three-quarters of all liquidations.
In a conversation with Cointelegraph, Swyftx analyst Pav Hundal noted the continued possibility of a “Santa Claus rally.”
“This is not the Christmas rally we were hoping for. But it looks like a short-term discontent,” he explained.
According to the expert, market focus remains on expectations regarding the pro-cryptocurrency policies of Donald Trump’s administration.
At the time of writing, Bitcoin is trading at $95,300, showing daily declines of 6.2%. Among the top 10 assets by market capitalization, excluding stablecoins, this figure ranges from 5.9% to 15.9%.
Back in previous reports, Syncracy Capital co-founder Daniel Chung predicted a steady buying mode for digital gold “on pullbacks.”
Earlier, Real Vision’s chief analyst Jamie Coates suggested Bitcoin might enter a correction in two to three months.
Glassnode has recorded signs of a late-stage bull run for the leading cryptocurrency.