Bitcoin (BTC)
$47 426.00 (-4.81 %) View coin
News
23 Feb 2021

Nearly $6 billion: Crypto futures market saw the highest amount of liquidations in its history on Monday

Nearly $6 billion: Crypto futures market saw the highest amount of liquidations in its history on Monday

The crypto futures market saw the highest amount of liquidations in its history on Monday.

In the last 24 hours, the market saw $5.77 billion worth of liquidations, according to tracker Bybt, a development triggered by a broad decline in the price of bitcoin and other cryptocurrencies.

By comparison, March 2020's so-called "Black Thursday" saw a total of $4.1 billion worth of liquidations, according to data provided to The Block by Bybt.

[caption id="attachment_95861" align="aligncenter" width="2038"] Source: Bybt, The Block Research[/caption]

 

During the Black Thursday event, bitcoin's price fell about 50% and led to significant liquidations at the time. Compared to that percentage, the latest bitcoin fall is relatively lower at around 17%, despite higher liquidations.

The maturity of the crypto market could be one reason for the relatively lower price decline. Several crypto exchanges now offer futures trading, compared to a period when BitMEX dominated the market. The level of open interest today is also significantly higher than it was last March.


No other news.
No upcoming event.

3 coins to keep an eye on 👀

Subscribe to receive a weekly selection of 3 coins to watch closely, based on upcoming events and technical analysis.