The crypto market has recently experienced a wave of liquidations, amounting to nearly $300 million, closely following Bitcoin’s sharp reclaim of the $67,000 mark.
This surge in Bitcoin’s value, a stark reversal from its previous downtrend, caught many traders off guard, especially those who had placed bets on the continuation of the market’s decline.
Over 80,000 Traders Faces Liquidation
The data provided by Coinglass sheds light on the magnitude of the liquidations, revealing that approximately 86,047 traders suffered losses exceeding $250 million within a mere 24-hour period.
Major exchanges like Binance, OKX, Bybit, and Huobi were the arenas for these significant financial setbacks, with Binance traders bearing the brunt of the liquidations.
Particularly, Binance recorded $128.7 million in liquidations, while other major platforms such as OKX, Bybit, and Huobi also experienced significant liquidations, amounting to $99.87 million, $33.18 million, and $17.70 milli
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