#$1.5BInLeveragedCryptoBetsLiquidated
$1.5 billion in leveraged crypto bets were wiped out in 24 hours.
After Binance disclosed a security breach affecting about $6.3 billion in assets, panic selling hit the whole market. According to CoinGlass data, total liquidations reached $1.53 billion in 24 hours — and $1.29 billion of that, about 83.8%, was longs, bets that prices would rise.
Breakdown:
Bitcoin: about $499 million liquidated Ether: about $358 million liquidated Binance alone: $754.6 million, about 49.2% of the total Largest single liquidation: an $11 million Bitcoin long on Binance
$BTC fell to about $76,460 before recovering toward $78,500. Binance says about $3 billion in affected assets has been frozen, it will cover all customer losses, and deposits and withdrawals are temporarily suspended while security checks continue.
This is why leverage is so dangerous in a shock event — a fast move can close a position automatically, even if the price recovers later.
Were you caught in this liquidation wave, or did you stay in spot only?
#BTC #Liquidations #Binance
$1.5 billion in leveraged crypto bets were wiped out in 24 hours.
After Binance disclosed a security breach affecting about $6.3 billion in assets, panic selling hit the whole market. According to CoinGlass data, total liquidations reached $1.53 billion in 24 hours — and $1.29 billion of that, about 83.8%, was longs, bets that prices would rise.
Breakdown:
Bitcoin: about $499 million liquidated Ether: about $358 million liquidated Binance alone: $754.6 million, about 49.2% of the total Largest single liquidation: an $11 million Bitcoin long on Binance
$BTC fell to about $76,460 before recovering toward $78,500. Binance says about $3 billion in affected assets has been frozen, it will cover all customer losses, and deposits and withdrawals are temporarily suspended while security checks continue.
This is why leverage is so dangerous in a shock event — a fast move can close a position automatically, even if the price recovers later.
Were you caught in this liquidation wave, or did you stay in spot only?
#BTC #Liquidations #Binance
