Crypto Derivatives Liquidations Reach $1.25 Billion in 24 Hours
Photo: TokenPost
Crypto derivatives liquidations totaled $1.25 billion over 24 hours, with Bitcoin and Ether leading the asset breakdown and long positions accounting for 88.6% of the total. Long positions are trades that benefit when prices rise, so the split points to a sharp unwind of leveraged bullish bets. Bitcoin futures open interest measured in BTC rose 12.1% to 694,728 BTC over 19 days through Oct. 31, while dollar-denominated open interest was nearly flat at $53.7 billion. Bitcoin’s price fell 5.3% during that period. These figures predate the liquidation window and do not show whether open interest fell during the later unwind.
Source: TokenPost
