NEWS: According to data from cryptocurrency explorer Coinglass, liquidations of around $840 million in cryptocurrency futures have been recorded so far this week. About 45% of these were specifically from bitcoin positions, representing a total of $378 million. Bearish traders, that is, those who bet that the price of bitcoin would fall, were the ones who bore the brunt. Liquidations of bearish positions accounted for 70% of total bitcoin liquidations.
The drop in the price of bitcoin in recent days has been one of the main factors contributing to the liquidations. The price of bitcoin has fallen 20% in the last 7 days, going from a high of $56,000 to a low of $44,000. Leveraged trader liquidations can have a significant impact on the cryptocurrency market. When a leveraged trader is liquidated, they are forced to close their position, which can lead to a massive sell-off of assets.
In this case, liquidations by bearish traders have contributed to the decline in the price of bitcoin. However, it is important to note that liquidations are only one factor that can influence the price of an asset. Other factors, such as supply and demand, also play an important role.
The cryptocurrency market is