$125 Million Worth of Futures Positions Liquidated in the Past Hour

09 December, 2024, 10:30 PM

Over $125 million worth of futures positions have been liquidated across major exchanges in the past hour, according to data from Coinglass. This brings the total value of futures positions liquidated over the past 24 hours to over $1.664 billion. The liquidations come as the price of Bitcoin has fallen sharply in recent hours, dropping from a high of over $24,000 to a low of just over $22,000. The fall in price has been attributed to a number of factors, including concerns over the spread of the Omicron variant of COVID-19 and profit-taking by investors. The liquidations are a reminder of the risks involved in trading futures contracts. Futures contracts are leveraged products, which means that traders can lose more money than they originally invested. In addition, the futures market is highly volatile, and prices can move quickly in either direction. Traders should be aware of the risks involved in trading futures contracts and should only trade with money that they can afford to lose.