$631M in crypto longs liquidated in 24 hours as leverage bites again
Photo: Crypto Briefing
Bullish traders using borrowed money were forced out as Bitcoin swung between $76,000 and $80,500 Crypto traders betting on higher prices just had a rough day. Over the past 24 hours, $631 million in long positions were liquidated across crypto markets. Bitcoin spent the period moving between roughly $76,000 and $80,500. A swing like that sounds modest for crypto. For traders running on borrowed money, it was enough to blow up positions in bulk. A long position is a bet that an asset’s price will rise. When traders use leverage, they borrow funds to make that bet bigger.
Source: Crypto Briefing
