Crypto Liquidations Hit $1.5 Billion as Bitcoin Dips
A total of $1.5 billion in leveraged crypto bets was liquidated as Bitcoin dipped to $76,460 before a rebound began squeezing short positions.
According to Binance, $1.5 billion in leveraged crypto bets was liquidated across the market as Bitcoin dipped to $76,460. Following the price drop, a market rebound began squeezing short positions.
Liquidation Scale
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The market-wide deleveraging event wiped out $1.5 billion in leveraged positions within the reporting window, highlighting high volatility around the $76,460 price level for Bitcoin.
Market Rebound
Following the sharp downward move to $76,460, prices initiated a rebound that actively targeted and squeezed short positions in the derivatives market.
Key facts
- Total liquidated leveraged crypto bets reached $1.5 billion according to Binance.
- Bitcoin touched a low of $76,460 during the market dip.
- A subsequent market rebound triggered a squeeze on short positions.
Source: news.google.com
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