Bitcoin Bulls Lose $1.1 Billion In Market Sell-Off
Photo: Cointribune
Over $1.1 billion in bullish positions were destroyed during the crypto market crash, but their disappearance did not trigger a real rebound. The main problem is no longer just excess leverage: spot purchases and institutional flows remain too weak to regain control of the market. Bitcoin traded around $76,100 on the morning of November 6, down more than 5% over twenty-four hours. Indeed, altcoins faced even greater pressure. The drop was amplified by leveraged contracts. Of the $1.27 billion in automatically closed crypto positions, over $1.1 billion came from bullish bets that became undercollateralized.
Source: Cointribune
