Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: sirty143 on April 13, 2024, 09:36:22 AM

Title: Leveraged Crypto Traders Hit Hard: $872M Liquidated in a Single Day Amid Bitcoin
Post by: sirty143 on April 13, 2024, 09:36:22 AM

Leveraged Crypto Traders Hit Hard: $872M Liquidated in a Single Day Amid Bitcoin Price Drop

On April 12, bitcoin briefly reached above the $71,000 threshold, but its value plunged by more than $3,000 after a substantial sell-off at 2:00 p.m. Eastern Time. The price of bitcoin in USD tumbled to an intraday low of $65,230... See more for yourself here (https://news.bitcoin.com/leveraged-crypto-traders-hit-hard-872m-liquidated-in-a-single-day-amid-bitcoin-price-drop/).

Your opinion is greatly appreciated.

Title: Re: Leveraged Crypto Traders Hit Hard: $872M Liquidated in a Single Day Amid Bitcoin
Post by: Don Pedro Dinero on April 16, 2024, 05:52:28 PM

Well, leverage works both ways. In the same way that we have seen a sharp decline now, at other times we have seen a very rapid rise partly due to a lot of short positions being liquidated on the way up. It just adds volatility, and for most of the time it doesn't affect the intraday price change.