Bitcoin’s pullback from $111K wiped out $560M in crypto liquidation wave
Bitcoin’s latest pullback from its ATH at $111K has led to a wave of liquidations, wiping out $560M in long and short positions.
Bitcoin’s (BTC) latest pullback has contributed to a wave of liquidations of futures positions. On Friday, May 23, liquidations on crypto exchanges affected 160,905 traders, with a total value of erased positions amounting to $563.20 million.
Out of these liquidations, $418.63 million accounted for long positions, while $144.35 million accounted for short positions. According to Coinglass, the largest single liquidation order was a BTC-USDT bet on OKX, valued at $9.53 million.
Bitcoin traders lost the most, with $153.04 million in total liquidations, while Ethereum…
