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Bitcoin price drops below $91,000, leading to $135M long liquidations
Source: CryptoNewsNet Original Title: Bitcoin price drops below $91,000, leading to $135M long liquidations Original Link:
Bitcoin Price Decline and Market Impact
Bitcoin’s price fell below $91,000 today, triggering nearly $135 million in long position liquidations across crypto markets in the past hour.
The price decline forced the unwinding of leveraged bets by traders who hoped Bitcoin would rise. Long liquidations occur when exchanges automatically close leveraged positions after prices move against traders, causing them to lose their collateral.
Bitcoin was trading at $90,427 at the time of reporting.