BTC's Recovery to $60K May Trigger $670M in Liquidations
CryptoNewsTerminal Staff31 Aug, 2024
BTC's Recovery to $60K May Trigger $670M in Liquidations
If Bitcoin regains the $60,000 mark, CoinGlass estimates that $670 million worth of futures contracts on major exchanges could be liquidated. Conversely, if the price drops to $58,000, $523 million worth of liquidations might occur. These figures highlight the substantial leverage being used in the Bitcoin market, which can exacerbate price movements and volatility. Traders should exercise caution and manage their risk exposure accordingly.
