$284M IN LONGS WIPED OUT IN 4 HOURS
Crypto traders betting on further upside just took a major hit, with $284 million in long positions reportedly liquidated over the past four hours.
That kind of flush shows how much leverage was sitting on the bullish side. Once prices move against leveraged longs, exchanges automatically close positions, adding forced selling to the market.
Recent liquidation data is showing just how volatile the derivatives market has become, with more than $140M in longs wiped out in a single hour earlier today.
Crypto traders betting on further upside just took a major hit, with $284 million in long positions reportedly liquidated over the past four hours.
That kind of flush shows how much leverage was sitting on the bullish side. Once prices move against leveraged longs, exchanges automatically close positions, adding forced selling to the market.
Recent liquidation data is showing just how volatile the derivatives market has become, with more than $140M in longs wiped out in a single hour earlier today.
