This refers to a short liquidation event for the $AI token presumably referencing a cryptocurrency with the ticker AI where a short position was liquidated with a value of $1,602.8 at a price of $0.56855 per token.

Here’s a breakdown of the situation

Short Position: An investor was betting against the price of the $AI token, meaning they expected the price to fall. They borrowed $AI tokens and sold them at a higher price with the intention of buying them back later at a lower price to profit from the difference.

Liquidation A short liquidation occurs when the price of the token rises instead of falling, and the position reaches a point where it is no longer sustainable (often because the investor’s margin is insufficient to cover the position). When this happens, the exchange automatically closes out the short position, locking in the losses

$1,602.8 at $0.56855: The short position was liquidated when the price of reached $0.56855, and the liquidation value was $1,602.8. To calculate the amount of tokens involved in the liquidation

\text{Amount of $AI} = \{\text{Liquidation Value}}{\text{Price per $AI}} = \{1,602.8}{0.56855} \approx 2,818.84 \, \text{$AI}

In summary, the short position on the token was liquidated when the price reached $0.56855, and the total liquidation value was $1,602.8.

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