Major Exchanges Liquidate $560 Million in Futures Positions Over Past Hour

Major Exchanges Liquidate $560 Million in Futures Positions Over Past Hour

Over the past hour, major cryptocurrency exchanges have liquidated $560 million worth of futures positions. This represents a significant increase in liquidations compared to the previous 24 hours, during which $198 million worth of futures positions were liquidated. The sharp increase in liquidations suggests that traders may be becoming more cautious about the current market conditions. The liquidations have occurred across a range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. The largest single liquidation occurred on the Binance exchange, where $280 million worth of Bitcoin futures positions were liquidated. This was followed by liquidations on OKEx ($120 million), Huobi ($80 million), and FTX ($60 million). The liquidations have had a significant impact on the cryptocurrency markets, causing prices to drop across the board. Bitcoin has fallen by more than 5% in the past hour, while Ethereum has fallen by more than 7%. Other altcoins have also seen significant losses. The sharp increase in liquidations is a reminder of the risks involved in cryptocurrency trading. Traders should always be aware of the possibility of liquidations and should only trade with capital that they can afford to lose.