Data shows that crypto-tracked futures suffered over $800 million losses, the second-largest figure this year. Longs, or bets on higher prices, suffered $660 million in liquidations, likely contributing to the sharp downturn. Liquidation occurs when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin.
Bitcoin (BTC) Price Is In a ‘Bore to Death’ Phase. When Will the BTC Rally Resume?
The current period resembles the action from April through September of 2023 when bitcoin was stuck in the $25,000-$30,000 range...