Out of the $237 million liquidated, approximately $206 million in bitcoin long liquidations occurred on March 2 alone.
’s price had stayed above the $23,000 threshold for approximately seven days leading up to March 2.
However, on Thursday, the price plummeted to a low of $22,259 per coin. Prior to the drop, there were many long positions, and according tofrom Coinglass, 78,116 traders were liquidated when the price fell at 8 p.m. Eastern Time. The total liquidations since the price change amount to $237.97 million, with the largest liquidation occurring on Okx.
On March 2 alone, $206 million worth of liquidations occurred, with 90% of the positions being long. According to Coinglass, a /USD swap on Okx had a value of approximately $4.16 million. Binance, Bybit, and Okx experienced the most liquidations in the past 24 hours, followed by Huobi, Coinex, and Deribit.’s value rising. The liquidations on March 2 were nearly as high as the number of long liquidations that occurred on Feb. 8 when $254 million in long positions were wiped out. The March 2 liquidations more closely matched those on Jan. 17, which saw $190 million in long positions liquidated.
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