Bitcoin’s Crash Triggers Over $700M in Liquidations on BitMEX

From coindesk.com

Bitcoin’s (BTC) flash crash on Thursday triggered the most long-short liquidations on crypto derivatives exchange BitMEX in 16 months. The top cryptocurrency by market capitalization fell from $7,200 to a 10-month low of $5,678 in just 15 minutes at around 10:45 UTC, catching most traders off guard and forcing liquidations worth $702 million on BitMEX. That’s the highest amount since Nov. 14, 2018, according to crypto derivatives research firm Skew. The price drop triggered $698 million worth of sell liquidations and $4 million worth of buy liquidations. The Seychelles-based exchange had registered total ... (full story)