Market Sees Largest Liquidation of Positions Since End of 2022
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Over the course of 24 hours, exchanges liquidated positions held by 176,752 traders, reaching nearly $1 billion in liquidations according to the Coinglass platform.
Within 12 hours of the marked volatility increase in Bitcoin and Ethereum, 90% of the liquidations had been completed. Investors attempted to reallocate capital towards US bonds following their highest yield since 2008, with one investor alone suffering over $55 million in liquidations on Binance.
Another Binance user encountered losses up to $10 million on their BTC/USDT positions.
On August 18, Bitcoin and Ethereum reached their lowest points since June 2023, trading at $26,354 and $1,681 respectively.
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