The price of bitcoin has dipped below $48,000 from nearly $57,500 on Monday as derivatives positions worth almost $6 billion get force liquidated by crypto exchanges. In the last 24 hours, $5.65 billion worth of open interest was liquidated by crypto exchanges, according to tracker Bybt.com. In other words, crypto exchanges liquidated traders' overleveraged positions. Traders overleverage, or trade on margin, thinking that bitcoin's price would go up and they would benefit more. But when bitcoin's price goes below the liquidation price of their positions, exchanges force liquidate or close their positions because ... (full story)