Major Exchanges Liquidate $100 Million in Futures Positions

20 December, 2024, 08:29 AM

The cryptocurrency market has seen a significant amount of volatility in recent hours, with major exchanges liquidating over $100 million worth of futures positions in the past hour. This follows a trend of increasing liquidations over the past 24 hours, with a total of $974 million worth of futures positions being liquidated. The liquidations have been triggered by a combination of factors, including a sharp drop in the price of Bitcoin and other major cryptocurrencies. The price of Bitcoin has fallen by over 10% in the past 24 hours, and is currently trading at around $23,000. The liquidations are likely to have a negative impact on the cryptocurrency market, as they will reduce the amount of leverage available to traders. This could lead to further volatility in the market, as traders are forced to deleverage their positions.