In a matter of an hour, more than $150 million was liquidated.
Capital inflows into spot bitcoin exchange-traded funds drive the price.
Bitcoin (BTC) has registered notable volatility in recent hours. And as a consequence, several million dollars of leveraged traders have been liquidated.
The price of the digital currency rose to touch $68,000, then fell sharply to $64,900, a decrease of 4.27% in a matter of minutes.
Subsequently, the price of bitcoin recovered slightly and stabilized at around $66,000 at the time of writing.
As a consequence of this high volatility, more than 200 million dollars were liquidated in both long and short positions of bitcoin and other cryptocurrency traders.
The next CoinGlass chart allows you to observe these settlements:
Liquidations are events where leveraged positions are automatically closed by exchanges. when prices reach certain predefined levelsusually due to a lack of funds to cover losses. They affect traders who are forced to sell their assets to cover losses.
On days of high volatility, liquidations tend to increase greatly.
Altcoins were not left out of these movements. Ether (ETH), BNB, solana (SOL), XRP (XRP), and toncoin (TON), as well as hundreds of other crypto assets, have seen slight rises and falls in their prices following bitcoin’s rebound. Their traders were also liquidated.
As CriptoNoticias has reported, beyond short-term volatility, there is great expectation that October will be a bullish month, based on market history.
This article was created using artificial intelligence and edited by a human Editor.
