Bitcoin Sell-Off Wipes Out $771M in Leveraged Bets
A deepening Bitcoin sell-off resulted in $771 million in leveraged positions being wiped out across the crypto market, according to the Bitcoin Foundation.
A deepening Bitcoin sell-off resulted in $771 million in leveraged positions being wiped out across the crypto market, according to the Bitcoin Foundation. The market downturn intensified as leveraged bets were liquidated amid persistent downward price pressure.
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The wave of liquidations affected traders utilizing elevated leverage across various digital asset platforms. Market participants faced forced closures of their positions as the sell-off accelerated.
Key facts
- Total leveraged bets wiped out reached $771 million, according to the Bitcoin Foundation.
- The liquidations accompanied a deepening Bitcoin sell-off.
Source: news.google.com
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