Liquidation Shockwaves Rock the Crypto Realm
When a Binance whale is liquidated to the tune of $11.58 million, the repercussions resonate through the entire cryptocurrency ecosystem. The stunning dip of Bitcoin below the crucial $86K mark sent alarm bells ringing, highlighting the market’s precariousness. Liquidation events reverberated dramatically, pushing total liquidations far beyond $213 million as countless traders, betting on Bitcoin’s rise, found themselves ensnared. This incident lays bare the volatile nature of the crypto sphere, where leveraged positions can lead to rapid, disastrous collapses of wealth.
What Happens During Liquidation?
At its core, liquidation is the forced closure of a trading position when losses erode the collateral backing a leveraged bet. In this…
