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92% of all crypto ‘longs’ liquidated yesterday after Bitcoin fell to $43,000

The crypto market saw one of its biggest moves in recent times, with over 376,000 trading accounts ‘liquidated.’

92% of all crypto ‘longs’ liquidated yesterday after Bitcoin fell to $43,000

Crypto traders took some of their biggest hits in recent times as a sudden purge across the crypto market saw $3.7 billion worth of trading positions liquidated, data from multiple sources showed.

‘Liquidations,’ for the uninitiated, occur when leveraged positions are automatically closed out by exchanges/brokerages as a “safety mechanism.” Futures and margin traders—who borrow capital from exchanges (usually in multiples) to place bigger bets—put up a small collateral amount before placing a trade.

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