Market Correction Resulted in Liquidating $1.65 Billion Positions
In the morning of March, 23rd, Bitcoin corrected itself and dropped to $53,000. Traders started closing their positions and this resulted in massive liquidation of a total $1.65 billions. Traders who placed the sell orders lost $165 millions; one of them lost $10 millions.
Binance Futures became a leader on the amount of liquidations again. 50.69% of positions, mostly longs, were closed due to lack of marginal support. Bybit went second with 22.05%, and Huobi showed the result of 17.2% positions closed.
However, this wasn’t a record. A week ago, when the market went down, the total of liquidated positions made more than $2.08 billions, and a month ago, $3.5 billion became an all time high total of them.