In the crypto market, which is increasing in popularity day by day, marginapproximately one year from transactions 17 billiondollar Bitcoin ( BTC) was eliminated.
In the liquidation process, which is called one of the most brutal aspects of the crypto market, $ 17 billion BTC was vaporized. Especially digital assets were affected by the liquidations caused by the high volatility created by the news feeds.
Bitcoin Liquidations Hurt
While nearly $17 billion worth of Bitcoin liquidations occurred in a year, the majority of these losses were on Binance, FTX, Bybit and Okex exchanges.
The biggest reason for the increase in the size of the liquidation was volatilities. In addition, the fact that users who opened positions in margin transactions moved against the trend were also among the factors.
On September 9 alone, the BTC price rose from $19.3k to $21,000, with nearly $114 million liquidated on the margin side. In addition, according to the data, users seem to be approaching the liquidation point due to volatility, although they catch the trends correctly. This stands out as an indication that users are buying highs, selling lows, or taking highly leveraged trades.
The day that saw the highest liquidation volume was June 13, when the BTC price dropped from $26.5k to $22.4. About half a billion dollars worth of BTC assets were liquidated on this date.
In general, this year has passed with liquidations. Approximately $9.5 billion of long positions and approximately $7.6 billion of short positions were liquidated. This year, a total of 17 billion dollars was evaporated.
