The crypto market has recently experienced a wave of liquidations, amounting to nearly $300 million, closely following Bitcoin’s sharp reclaim of the $67,000 mark. This surge in Bitcoin’s value, a stark reversal from its previous downtrend, caught many traders off guard, especially those who had placed bets on the continuation of the market’s decline. Related Reading: Bitcoin Might Be Poised For A ‘Double Pump Cycle,’ Reveals Analyst – Here’s Why Over 80,000 Traders Faces Liquidation The data provided by Coinglass sheds light on the magnitude of the liquidations, revealing that approximately 86,047 traders suffered losses exceeding $250 million within a mere 24-hour period. Major exchanges like Binance, OKX, Bybit, and Huobi were the arenas for these significant financial setbacks, with Binance traders bearing the brunt of the liquidations. Particularly, Binance recorded $128.7 million in liquidations, while other major platforms such as OKX, Bybit, and Huobi also experienced significant liquidations, amounting to $99.87 million, $33.18 million, and $17.70 million, respectively. Meanwhile, despite also facing liquidations, the smaller exchanges had a comparatively minor impact. Most affected positions were short trades, reflecting a widespread anticipation o ..
Support the originator by clicking the read the rest link below.
