In the past 12 hours, the market has experienced a total liquidation of approximately 103 million US dollars, with short positions accounting for over 63%
According to Coinglass data, the total liquidation in the past 12 hours across the entire network was approximately $103 million, with short positions being liquidated for $62.7913 million.
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The US Treasury will conduct auctions of two-year, five-year, and seven-year Treasury bonds next week. Currently, traders are racing to borrow bonds to short them, driving the borrowing costs for short-term Treasuries sharply higher. On Friday, the overnight repo rate for borrowing the current two-year Treasury was about 0.79%, while the rate for the five-year even dropped to as low as -0.85%. In contrast, the repo rate for regular Treasuries was around 3.88%.
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