Leveraged Bitcoin buyers just absorbed a sharp flush. The major venues liquidated $59.0M of $BTC long positions in the last 30 minutes. A liquidation is when an exchange closes a borrowed position because the trader's margin can no longer cover it.
The pain was one sided. Over the same 30 minutes, $BTC shorts, the traders betting on a lower price, saw $2.5M closed.
The figures come from the raw liquidation streams of the major venues.
The pain was one sided. Over the same 30 minutes, $BTC shorts, the traders betting on a lower price, saw $2.5M closed.
The figures come from the raw liquidation streams of the major venues.
