According to the latest statistics, after the sudden jump of bitcoin this morning, over 448 million dollars have been liquidated in the last 24 hours, about 80% of which are shorts.
According to Crypto Potito, the price of bitcoin reached more than $ 47,700 this morning; The level that the world’s largest digital currency has not seen since January 2 (January 12). However, the jump in prices also hurt futures traders, liquidating more than $ 448 million in the last 24 hours.
According to the analytical site Coinglass, about 80% of all liquidated trading opportunities were shorts (in order to reduce prices).
Liquidation occurs when the exchange completely closes the trading position with the trader’s leverage in order to prevent the burning of the initial amount due to the trader. In fact, trading platforms do not allow the balance of the trader’s account to reach less than his debt. This happens mainly in the futures markets.
With the arrival of bitcoin on the seventh consecutive day of rise, the price of this digital currency is stable. At the time of writing, bitcoin is trading at about $ 47,200. It is worth mentioning that today the price in some exchange offices reached the highest level of $ 47,765.
Bitcoin has not been able to reach this price level since January 2, when it entered a downward trend. After this jump, the price of this digital currency has risen by almost 14% in the last seven days.
Quingleglass data show that the largest liquidated order was for the Bitmex exchange. This trading position is related to the Perpetual Bitcoin futures market worth about $ 10 million.
With $ 47,000 in bitcoin, the $ 448 million liquidated trading position appeared for the first time in digital currency.