Bitcoin news: Single BTC trader loses $61 million on HTX as price dives 4%
A single Bitcoin whale faced a $61.5 million forced liquidation on the HTX exchange as BTC's price dropped, pushing market sentiment to 'extreme fear.'Summary
A massive leveraged bullish bet worth $61.5 million was forcibly closed by the cryptocurrency exchange HTX on Monday, marking the largest single liquidation in the preceding 24 hours. This event occurred as Bitcoin's price fell from a Saturday high of $68,600 down to $64,400, erasing weekend gains. The total market saw $467.64 million in liquidations, with long positions accounting for about 93% of the total, indicating that many traders were positioned for upside. The selloff dragged the Crypto Fear and Greed Index down to 5, signaling 'extreme fear,' a level only matched three times since 2018. Data from Glassnode suggests short-term holders are still capitulating, reinforcing that the market remains under pressure despite the clearing of leverage.
(Source：CoinDesk)