Traders lost $430 million in one day due to jumps in cryptocurrency rates

Investing.com - The amount of liquidations of margin positions of traders on large crypto exchanges due to jumps in cryptocurrency rates over the past 24 hours exceeded $430 million. Including, according to Coinglass, more than 146 thousand orders worth over $118 million for Bitcoin or more were forcibly closed $75 million on Ethereum . The largest single forced closure, worth $14.76 million, occurred on the OKX exchange in the BTC/USDT pair.

The Bitcoin (BTC) rate on November 9 reached a yearly high of $37,974, but soon after that it corrected below the level of $37 thousand. At 9:40 Moscow time, the first cryptocurrency is trading at $36,627 in pairs with the stablecoin Tether USD (USDT) on the Binance exchange . Over the past week, BTC has increased in price by more than 6%.

The second largest cryptocurrency, Ethereum ( ETH ), showed more noticeable growth. After reports appeared that BlackRock had filed an application to register an exchange-traded fund (ETF) on Ethereum, the ETH rate exceeded $2,000 for the first time since April. The coin is trading at $2,115 and has increased in price by almost 10% in a day.

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