Bitcoin’s price move leaves 97,000 traders distraught
Bitcoin’s drastic price moves up and down have led to a liquidation of the positions of traders trading on leveraged exchanges.
According to Bybt, which provides data on cryptocurrency markets, the size of liquidated positions in the last 24 hours on both the buy and sell side has reached $ 1 billion 370 million. In total, the largest liquidation took place in Binance with $ 546 million, followed by Huobi with $ 303 million, BitMEX with $ 180 million, OKEx with $ 170 million, and Bybit with $ 100 million. FTX, Deribit and Bitfinex’s total in this sense was $ 71 million.
Short positions created the vast majority of positions liquidated in 24 hours, while in the one-hour time period this figure was balanced by about half.
97k Bitcoin traders lost millions
Bybt shows that about 97 thousand traders were liquidated during this time. The largest single liquidation amount was in BitMEX, which was worth $ 10 million.
The largest cryptocurrency changes hands at $ 22,600 as of 13.00 TSI, when the news is published.