Liquidation of $115m in futures positions in the last 1 hour

IconCryptoNewsTerminal Staff04 Jul, 2024

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Liquidation of $115m in futures positions in the last 1 hour

Major exchanges have liquidated $115 million worth of futures positions in the last hour. This comes after a 24-hour period that saw $552 million worth of futures positions liquidated. The liquidations were triggered by a sharp drop in the price of Bitcoin, which fell from $24,000 to $22,000 in a matter of hours. The drop in the price of Bitcoin was likely caused by a combination of factors, including profit-taking by early investors and concerns about the regulatory environment for cryptocurrencies. The liquidations are a reminder of the volatility of the cryptocurrency market and the risks involved in trading futures contracts.

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