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05 March 2021

Bitcoin Market Dump Crushes $1.6 Billion in Long Positions - Decrypt

Bitcoin Market Dump Crushes $1.6 Billion in Long Positions - Decrypt

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Data shows the most liquations occurred on crypto exchange Binance, with over $600 million worth of long positions getting closed out.

Bitfinex clocked in the least liquidations on its exchange with just $1.2 million in lost capital—a metric that suggests its traders were either using low leverage or had sufficient capital to avoid liquidations compared to other exchanges.

Data shows over $210 million worth of Bitcoin shorts were liquidated yesterday—Binance once again led this area with $92 million in short liquidations—as traders rushed to bet against the asset’s prices with high leverage and got caught in the volatility instead.

In the wider cryptocurrency markets, $3.64 billion and $342 million worth of longs and shorts were liquidated respectively.

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