Forced Liquidation of $530 Million in Futures Positions in the Past Hour

IconCryptoNewsTerminal Staff04 Jul, 2024

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Forced Liquidation of $530 Million in Futures Positions in the Past Hour

In the past hour, major exchanges have liquidated $530 million worth of futures positions. This comes after a total of $492 million worth of futures positions were liquidated in the past 24 hours. The forced liquidations are likely due to the recent sharp drop in the price of Bitcoin and other cryptocurrencies. The price of Bitcoin has fallen by more than 10% in the past 24 hours, and it is currently trading at around $30,000. The forced liquidations are a sign of the increasing volatility in the cryptocurrency market. Investors should be aware of the risks involved in trading cryptocurrencies, and they should only invest what they can afford to lose.

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