BTC Drop Below $55K Could Trigger $760M in Liquidations, Data Shows
CryptoNewsTerminal Staff11 Sep, 2024
BTC Drop Below $55K Could Trigger $760M in Liquidations, Data Shows
Although Bitcoin (BTC) remains above $55,000, data shows that a further drop could result in significant liquidations of long positions. According to data from crypto market data platform Coinglass, if BTC falls below $55,000, an estimated $765 million worth of long positions will be liquidated on major centralized exchanges (CEX). Conversely, if it breaks above $58,000, approximately $585 million worth of short positions may be liquidated.
