Bitcoin price drops below $91,000, leading to $135M long liquidations
Crypto Briefing
Bitcoin's price dropped below $91,000, resulting in about $135 million in long position liquidations.Summary
Bitcoin experienced a sudden price decline, falling below the $91,000 mark and trading around $90,427 at the time of reporting. This volatility triggered approximately $135 million in long position liquidations across cryptocurrency exchanges within the preceding hour. Long liquidations occur when leveraged bets placed by traders expecting a price increase are automatically closed by exchanges as the price moves against them, leading to the loss of their collateral, thereby highlighting the inherent risks associated with leveraged trading during sharp market movements.
(Source：Crypto Briefing)