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Friday

05 March 2021

$5.64 billion liquidated in 24 hours as Bitcoin extends losses — Is a relief rally near?

$5.64 billion liquidated in 24 hours as Bitcoin extends losses — Is a relief rally near?


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The price of Bitcoin (BTC) plummeted by more than 17% in the last 24 hours as the futures market saw mass liquidations across the board.

If the Bitcoin futures market is highly overleveraged and overcrowded, a minor price movement can trigger mass liquidations.

It is a possibility that a major sell-off in the spot market triggered the futures market to see intense selling pressure from many long positions getting liquidated.

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cointelegraph.com
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