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Bitcoin late longs wiped out as sub-$110K BTC price calls grow louder
Bitcoin sellers emerged again on Monday as the drop to $111,000 resulted in a large liquidation of leveraged long positions across the cryptocurrency market. Bitcoin price fell as low as $111,300 on Monday, reversing Friday’s spike fueled by Fed Chair Jerome Powell’s dovish speech, as a whale sold into the rally. This extended the drop from the Aug. 14 all-time high of $124,500 to 11% and was accompanied by massive liquidations across the derivatives market. Over $642.4 million in long positions were liquidated, with Bitcoin accounting for $235.5 million. Ether followed with $155 million in long liquidations. ... (full story)
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