Traders lost $ 140 million in cryptocurrency in a day

The rise in the bitcoin rate above $ 11,000 provoked the closure of the positions of users who gambled for a fall.

Behindday traders lost about $ 140 million incryptocurrency. This happened amid a rise in the price of bitcoin, which on October 9 rose above $ 11,000 for the first time since mid-September. The increase in the coin rate provoked the liquidation of short positions - exchanges forcibly closed the transactions of users who were playing for a fall.

Thus, according to the bybt platform.com, a total of $138 million in positions were liquidated, 93% of which were short contracts. The largest volume of closed positions was on the Binance exchange - $38 million. The second place in terms of this indicator was the Houbi platform with a value of $31 million. The next 3 lines went to OKEx, Bybit and BitMEX, the amount of liquidations on which was $18-24 million.

Many times more traders lost on liquidations 2August, this happened due to sharp fluctuations in the price of bitcoin. Then it rose above $ 12,000, and then in less than 5 minutes fell to $ 10,500. As a result, long positions for $ 1.25 billion were forcibly closed, short positions for $ 233 million. Almost 70 thousand users were affected during the day of liquidation. BitMEX platform client lost more than $ 10 million in one trade.

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