$648 Million Worth of Longs Liquidated in One Hour as Bitcoin Dips to $55K

$648 Million Worth of Longs Liquidated in One Hour as Bitcoin Dips to $55K

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  1. tldr; of $677 million worth of crypto has been wiped out over the past hour, with long positions accounting for over 95% of all liquidations. After reaching its three-year high on April 6, XRP is now the biggest laggard in the CoinMarketCap top 10, plunging more than 22%.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. First off, it didn’t dip to $55K, the lowest to traded today (so far) was $55.6K, but lets put this in perspective: the last time it traded at low was March 29th. 10 days ago. It’s up off of it’s lows now, and it’s trading where it was 2 days ago.

    This is just shit journalism.

  3. I really don’t understand the appeal of bitcoin futures, this market is so volatile a tweet from elon liquidated billions in shorts.

    Idk, I’d rather just hodl

  4. WTF is the point of these constant “$XXX longs/shorts liquidated” when they don’t specify how much the traders make during other times? They always make it seem like it could be 2 traders that just lost $648m or something… Everyone could still be up, more likely down but this is just 1 day out of 100 for them…

  5. Wow, sure glad I don’t margin trade, so I can go about my day not shitting my pants every few minutes worrying that I’ll get wiped out on the whim of an asset class that’s attractive exactly for its high volatility…

  6. This always seems like the riskiest of risky business. It’s nothing for BTC to drop 10% in one day, seemingly out of the blue. Why play it so close?

    *The day a stock drops 10% is the single most important day in that stock’s life. But for crypto, it was Wednesday.*

  7. Crypto is a huge pump and dump right now and when GME sores it will tank.

    I’m with Burry on this, BTC is in a huge bubble right now and Im gonna presume hedgies know this. Like it or not, they understand economics better than retail and while they often fuck up their bets a lot, they have a better understanding of how government policies will affect BTC than we do.

    There’s still nothing to stop any governments from outright banning crypto either, because governments will lose their power if it rises and they will never let that happen.

  8. Glad I threw a short in at 60.2k and liquidation point at 62k on Cross margin. Im betting that the 61.8k was the peak of this bull run.
    Im probably wrong, but it’s just a hunch.



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