CandleFocus Mass Crypto Liquidations: Over $1.47B Wiped Out in Long and Short Positions Last Week
2024-10-09
Author: Content Editor
The cryptocurrency market experienced over $1.47 billion in liquidations during the past week, with long positions being the most affected. Binance, the largest cryptocurrency exchange, saw $745 million worth of positions closed, with the majority coming from long positions. OKX also experienced liquidations of $472 million, again with long positions being the most impacted. Bybit, HTX, CoinEx, BitMEX, and Bitfinex also faced liquidations, though on a smaller scale. Long positions accounted for $1.02 billion in liquidations, indicating that many traders were caught off-guard by the market drop and had leveraged themselves heavily. This serves as a cautionary reminder for traders to exercise caution, particularly when using leverage.
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