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Record Breaking $1 Billion Bitcoin Futures Liquidation Sinks Markets
If you thought the market’s bloodletting was over (in this cycle anyway), we have bad news for you. The crypto pull back continued overnight and into Tuesday morning. Bitcoin is down 4.5% over the last 24 hours according to Nomics, racking up its second consecutive day of losses. From the highs of $61,500 hit on Sunday, Bitcoin traded as low as $53,000 in the last 24 hours, representing more than a 10% slide. For futures markets, the picture was even bleaker. According to a tweet from Glassnode co-founders Jan & Yann, there were $500 million liquidations of Bitcoin long positions - bets that the price would go up - ... (full story)
