Traders liquidate over $250m amid Bitcoin price decline
The total amount of liquidations on the crypto market over the past 24 hours exceeded $250 million. According to Coinglass, the volume of liquidations currently stands at $252.5 million. Most forced closed positions were in Bitcoin (BTC) and Ethereum (ETH). Source: Coinglass Earlier, the price of Bitcoin dropped below $41,000, costing traders $81.1 million. Market participants who opened long positions in Ethereum also suffered significant losses – the price of the second largest cryptocurrency by capitalization to $2,400, costing traders $32 million. Source: Coinglass Over 90% of liquidations were distributed between OKX, Bybit, Huobi and Binance. Binance executed the most significant order – the exchange closed a long BTCUSDT for $7.31 million. You might also like: Bitcoin decreases 12% to below $42k following spot ETF hype At the time of writing, the rate of the largest cryptocurrency was $41,200. According to Coinglass data, in the last few hour...