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Bitcoin Price Tumbles to $112K in Bloodbath for Longs
More than half a billion in long positions were liquidated across the crypto market on Monday as the price of Bitcoin dropped to $112,000 amid a broader market tumble. Around 405,300 traders have been liquidated to the tune of more than $1.7 billion over the past two hours as Bitcoin (BTC) fell to a two-week low, slashing its gains after the US Federal Reserve cut lending interest rates by 25 bps last week. The majority of liquidations were long positions, according to CoinGlass, which came as Bitcoin dropped to $112,000 on Bitstamp, its lowest price since September 10. Over $1.6 billion in long positions were ... (full story)
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