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Author Topic: Leveraged Crypto Traders Hit Hard: $872M Liquidated in a Single Day Amid Bitcoin  (Read 56 times)

Offline sirty143

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

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

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Offline Don Pedro Dinero

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Re: Leveraged Crypto Traders Hit Hard: $872M Liquidated in a Single Day Amid Bitcoin
« Reply #1 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.
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