👀👀Bitcoin, which fell and rose again, liquidated $500 million 👀👀
The high volatility in Bitcoin led to the liquidation of $500 million worth of futures positions in the last 24 hours. $350 million of these liquidations were from long positions and $150 million from short positions. The largest liquidation occurred in Bitcoin transactions with $80 million. In Bitcoin futures, $56 million worth of liquidation was from long positions.
A total of $43 million worth of positions were liquidated in Ether, $32 million worth of positions in Dogecoin, and $31 million worth of positions in XRP.
The largest liquidation occurred on the Binance exchange with $212 million, while the OKX exchange ranked second with $117 million.
Yesterday, Bitcoin fell below $96,000, but rose above $97,000 early this morning.
According to analyst Fred Krueger, this rise is driven by MicroStrategy's new Bitcoin purchases. Krueger says that the company could increase the amount of Bitcoin by 120,000 by making new purchases this week with the $12 billion fund it has recently raised.
As of the time of writing, Bitcoin is trading at $98,200.
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