The volatile movements of Bitcoin (BTC) yesterday led to the liquidation of futures positions worth hundreds of millions of dollars.
Bitcoin on February 28 64 thousand dollars In a short time after rising to the band 7% value by losing It dropped to $59,200. This sudden movement led to serious liquidations in the futures market.
Total value of futures positions liquidated in the last 24 hours, according to CoinGlass data for $799 million reached. of liquidations $443 million portion is short While taking place specifically for directional positions On the long side, 353 million dollars position deleted. Total in the last 24 hours 187,950 investors were liquidated.
Total liquidation of $799 million $305 million in Bitcoin while taking place on In Ethereum (ETH), this amount is $129 million It was recorded as. With this $50 million in Dogecoin (DOGE) The futures position was liquidated.
With the recent rises, the funding rates in the market reached the overheating zone and especially long-sided transactions were almost swollen. This sudden decline and recovery movement was interpreted as a position clearing.
The Cryptocurrency Market was Bloodied with Bitcoin’s Sharp Movements at 64 Thousand Dollars! The article titled was prepared by Tugay Erdem and published on koinbulteni.com.