Massive Bitcoin Price Swings Lead to $1.13 Billion in Trader Liquidations
Crypto Traders Liquidated for $1.13 Billion Amid Bitcoin Price Swings
The recent Bitcoin crash led to $1.13 billion in trader liquidations, highlighting the volatility of the cryptocurrency market.
Bitcoin Crashes 14% After Tapping ATH
On Tuesday, Bitcoin briefly surpassed $69,000 before plummeting below $60,000, triggering a wave of selling pressure and erasing gains.
Dramatic Liquidation Event
Over $1.13 billion worth of derivatives trading positions were liquidated, with both long and short positions getting hit, resulting in the liquidation of 308,465 traders.
Market Volatility and Risk
The high-risk nature of leveraged trading in the crypto market was showcased by the significant price swings and liquidation volumes, urging caution among investors and traders.
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