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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.

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