Bitcoin price tumbles below $87K, triggering $200M in long liquidated in one hour
Crypto Briefing
Bitcoin's price dropped below $87,000, causing the forced liquidation of nearly $200 million in leveraged long positions within an hour.Summary
Bitcoin experienced a sudden price decline, falling below the $87,000 mark on Monday, which resulted in significant market upheaval for leveraged traders. Data from CoinGecko and Coinglass indicated that nearly $200 million worth of long positions were liquidated within the preceding hour. Long liquidations are an automatic process where exchanges forcibly close leveraged positions that were betting on a price increase after the asset's value drops below predetermined thresholds, compelling those traders to sell their holdings.
(Source：Crypto Briefing)