Amid falling BTC, traders lost $ 1.7 billion per day

The sharp drop in the price of Bitcoin led to massive liquidation of long positions.

Price over the past 24 hoursBitcoin fell by almost 19%, and the capitalization of the entire cryptocurrency market fell from $ 1 billion to $ 847 million. Having managed to test the local minimum of $ 28,800, by the morning the BTC recovered above $ 30,000.

Against the background of the fall of the first cryptocurrency, the exchangeliquidated a huge number of traders' positions. The total losses of 200 thousand users amounted to almost $ 1.7 billion. Long positions were the first to suffer. Longs worth $ 1.4 billion (80% of the total amount of liquidations) were forcibly closed during the day. The largest loss for a single trader, according to bybt.com, was $ 7.1 million.

Leader in liquidation among exchanges as alwaysIt turned out to be Binance, which closed orders for $ 700 million. Huobi closed exactly half the number of contracts, for $ 350 million. Third in the list is Bybit, which liquidated positions for $ 300 million.

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