On the night of August 5, the price of Bitcoin fell below $50,000, having decreased by more than 19% per day. This resulted in liquidation volumes in the cryptocurrency market exceeding $1 billion in 24 hours.
During this period, 268,285 traders were liquidated, with losses of approximately $888 million on long positions and more than $129 million on short positions. The largest losses occurred on Ethereum and Bitcoin, with liquidations of $337 million and $340 million, respectively.
The largest volumes of liquidations occurred on the Binance and OKX exchanges, where they amounted to $395.48 million and $308.33 million. The largest liquidation in the amount of $27 million was recorded on the HTX exchange (formerly Huobi) in the BTC/USDT pair.
At the time of writing, the price of Bitcoin is hovering around $51,000
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