In the past day, November 26, positions of 191,000 traders were liquidated. This happened in the context of a decline in the BTC rate to $16,300 and the loss of the largest altcoins to 20% of capitalization. Positions in the amount of $1.9 billion were liquidated on the cryptocurrency market. Of this, $1.7 billion fell in the range of 12 hours, when there was a sharp decline in quotations.
In total, positions of 191,000 traders were closed. The largest liquidation was paired with Bitcoin on the BitMEX exchange. In a single deal, a trader lost almost $10 million, according to the bybt.com service.
Mass liquidations took place against the backdrop of a sharp decline in cryptocurrency quotes. At a moment, the Bitcoin price fell by more than 13%, to $16,300. The Ethereum rate decreased by 15%, to less than $500, XRP – by 20%, to $0.52. The total capitalization of the digital money market over the past day has decreased by 13%.
With a sharp decline in prices, the exchanges begin to forcibly close the contracts of those who were bullish. This is a standard mechanism – in order not to lose money, exchanges liquidate long positions of clients and take the funds left on security for themselves.
