Crypto Markets on High Alert for Triple Witching Volatility

Crypto market traders are bracing for heightened volatility and further liquidations as $8.3 trillion in 'triple witching' events come to a head.

The largest-ever triple witching event has seen $500 million in total liquidations across top crypto assets, with nearly $410 million in long positions and $90 million in short positions liquidated over the last 24 hours.

Around 122K traders were liquidated in the last 24 hours, with the largest single liquidation order of ETH-USDT worth $10.49 million on decentralized crypto exchange Aster.

The put-call ratio of 0.77 indicates bullish sentiment among Bitcoin traders, but heavy puts positioning between $55,000 and $63,000 strike prices suggest most traders are betting on a crash to $60K.