Over $700 Million Liquidated in a Day as Bitcoin Price Dipped Below $63K
11 Nov, 2021•1 min read•Bitcoin
Today was looking to be a good day for Bitcoin and the entire cryptocurrency market, but the bears had a mind of their own.
Even though the price recovered to about $65K, at the time of this writing, BTC is still down about 4% on the daily. The rest of the market also tumbled as the total capitalization lost a little less than $200 in the process. Data from Bybt shows that 81% of the liquidations came from long positions, and the majority of them happened on Binance. Meanwhile, the largest single liquidation order happened on Bitmex, and it had a face value of $65.66 million. Interestingly enough, it was a Cardano position, and it accounted for roughly 65% of the total ADA liquidations during the past 4 hours.