Bitcoin tumbles below $89,000, triggering over $200 million in long liquidations in past hour
Key Takeaways
- Bitcoin’s recent price plunge triggered about $200 million in liquidations of leveraged long positions within an hour.
- Liquidations occur when exchanges automatically close positions to limit further losses for traders who borrowed to bet on higher Bitcoin prices.
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Bitcoin fell from above $91,000 to $88,900 in the past hour, wiping out more than $200 million in leveraged long positions across the crypto market, according to data from Coinglass and…
