Follow us on:

cc_icon

Post: The Chilling Aftermath: $165 Million Loss as Bitcoin Price Plunges

The Chilling Aftermath: $165 Million Loss as Bitcoin Price Plunges

Key Points:

  • Leveraged traders are facing losses exceeding $165 million due to a 5% drop in Bitcoin’s price.
  • Bitcoin’s price plummeted from $69,450 to $65,970 in less than 30 minutes on March 2.
  • Approximately $50 million in Bitcoin longs and over $40 million in Ether longs were liquidated during this rapid decline.

Losses in Leveraged Trading:

The sudden 5% drop in Bitcoin’s price led to significant losses for leveraged traders, amounting to over $165 million within a short timeframe of less than 2 hours.

Sharp Decline in Bitcoin Price:

Bitcoin’s price experienced a rapid decline from $69,450 to $65,970 in just 30 minutes on March 2, causing alarm among investors and traders.

Impact on Long Positions:

Long positions in both Bitcoin and Ether were hit particularly hard, with more than $90 million in leveraged positions liquidated, reflecting the increased volatility and risk associated with leveraged trading.

Hot Take:

The significant losses incurred by leveraged traders in such a short period underscore the extreme volatility in cryptocurrency markets, emphasizing the importance of risk management strategies when engaging in leveraged trading.

Recent Posts
Social Media
Twitter
Email
Telegram
Facebook
Offers
CheekyCrypto Membership Platform
Hardware Wallets
Bitget
Swissborg
Plutus Card