USD 400 million traders were settled over the weekend due to Bitcoin’s fall
Traders with leverage positions in the futures market began the week with strong losses.
As a consequence of the Bitcoin price collapse (BTC) and cryptocurrencies, More than 484 million dollars were settled in the last 24 hours.
It should be noted that leverage trailers, either in long or short positions, use exchanges loans to bet that the price of an asset goes up or down. If the market moves in another direction, the losses are amplified and their positions are automatically liquidated to limit the risk, as explained in cryptopedia, educational section of cryptooticies.
This dynamic was evidenced in the last 24 hours, when Bitcoin’s price fell from $ 118,350 to $ 114,700which represents a 3%drop. After touching that minimum, BTC managed to recover the $ 115,000 line.
These liquidations not only affected BTC, but also Ether (ETH), the native currency of Ethereum, and other cryptocurrencies. In the last 24 hours, the price of ETH fell from $ 4,550 to $ 4,280.
Although the background trend remains bullish for BTC and ETH, correction resulted in immediate losses for traders with leverage positions, despite the fact that the percentage falls in both assets were not significant.
