🚨 MARKET CRASH! Bitcoin Trader Automatically Wiped Out for Rp201 Billion After Daring to Go LONG!
The crypto market has once again been shaken by a wave of massive liquidations. A Bitcoin trader reportedly lost a position worth US$11.09 million, or around Rp201 billion, after being liquidated on Binance on Friday (30/10).
According to CoinGlass data, this was the largest liquidation in the past 24 hours, as Bitcoin’s price fell to US$77,005.
But this wasn’t the only trader affected.
📉 243,494 traders were liquidated in 24 hours, with total losses reaching US$1.49 billion.
Here’s the breakdown:
🔴 LONG positions: US$1.29 billion.
🟢 SHORT positions: US$197.15 million.
⚠️ In just one hour, US$629 million worth of derivative positions were wiped out, with more than 96% coming from LONG positions.
This means that most traders had been betting that crypto prices would rise. But when the market moved down instead, leverage magnified their losses and triggered a cascade of liquidations.
The situation became even more tense after reports emerged of a suspected security incident under investigation by Binance. Changpeng Zhao (CZ) also said the incident appeared to be a hacking attack.
🔥 An important lesson for traders:
Don’t get overconfident when taking LONG or SHORT positions. High leverage can increase potential profits, but it also raises the risk of losing your capital in a short time.
In the crypto market, prices can change direction at any moment.
Do you think this is just a market correction or the beginning of greater bearish pressure on Bitcoin?
#bitcoin #BTC #Binance #CryptoNews #Liquidation #coinglass #CryptoMarket
$Q $DOOD
The crypto market has once again been shaken by a wave of massive liquidations. A Bitcoin trader reportedly lost a position worth US$11.09 million, or around Rp201 billion, after being liquidated on Binance on Friday (30/10).
According to CoinGlass data, this was the largest liquidation in the past 24 hours, as Bitcoin’s price fell to US$77,005.
But this wasn’t the only trader affected.
📉 243,494 traders were liquidated in 24 hours, with total losses reaching US$1.49 billion.
Here’s the breakdown:
🔴 LONG positions: US$1.29 billion.
🟢 SHORT positions: US$197.15 million.
⚠️ In just one hour, US$629 million worth of derivative positions were wiped out, with more than 96% coming from LONG positions.
This means that most traders had been betting that crypto prices would rise. But when the market moved down instead, leverage magnified their losses and triggered a cascade of liquidations.
The situation became even more tense after reports emerged of a suspected security incident under investigation by Binance. Changpeng Zhao (CZ) also said the incident appeared to be a hacking attack.
🔥 An important lesson for traders:
Don’t get overconfident when taking LONG or SHORT positions. High leverage can increase potential profits, but it also raises the risk of losing your capital in a short time.
In the crypto market, prices can change direction at any moment.
Do you think this is just a market correction or the beginning of greater bearish pressure on Bitcoin?
#bitcoin #BTC #Binance #CryptoNews #Liquidation #coinglass #CryptoMarket
$Q $DOOD
