With Bitcoin falling to $ 36,000, $ 400 million became a liquid trading position
Recent data show that at the same time as Bitcoin fell to the $ 36,000 range, the $ 400 million trading position in the digital currency market has been liquidated. One of the largest liquidated situations was worth $ 4 million.
To Report Crypto Potito, the recent fluctuations in the digital currency market have caused considerable inconvenience to investors who have used high trading levers; The volume of liquidated trading positions in the last 24 hours has reached $ 400 million. The price of bitcoin has dropped by about $ 3,000 in one day.
It is safe to say that the digital currency market has had even better days in recent times; Because in less than a week, the value of this market has decreased by about $ 400 billion.
While many investors have been using terms such as “digital currency winter” and “bear market” for some time, the bitcoin market situation has worsened since yesterday.
The digital currency lost significant support at $ 40,000 last week, falling to $ 38,000. Then it faced a sudden and of course short jump that slightly increased its price. Following this jump, the price of this digital currency fell again and reached the range of $ 36,000, which is the lowest level in the last 19 days.
During this period, the situation of altcoins was even worse than bitcoins, and the percentage reduction in the price of altcoins such as Ripple, Cardano, Olench, Dodge Coin, Solana, Shiba Ino, Paligan and Crypto.com has been in double digits for the past seven days. Atrium and Binance Quinn are no exception.
According to the predictions made, the increase in fluctuations can again cause more liquidity of trading positions.
Liquidation occurs when a money changer completely closes the trader’s leveraged trading position to prevent the initial amount owed to the trader from being burned. In fact, trading platforms do not allow a trader’s account balance to reach less than his debt. This happens primarily in futures markets.
Data from the Coinglass site shows that as of yesterday, $ 400 million had been traded on 12,000 liquid traders. The largest liquidated trading position was at OKEx, which was valued at approximately $ 4 million.