Bitcoin Liquidations Lead $400M in Futures Losses After Drop to $35.7K
- Date: 06-May-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin Liquidations Lead $400M in Futures Losses After Drop to $35.7K
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Liquidations on crypto-tracked futures exceeded $400 million in the past 24 hours as bitcoin (BTC) dropped to as low as $35,700, setting the tone for a downturn in the broader crypto market.
Bitcoin futures racked up $191 million in losses alone, Coinglass data shows, suggesting most trading activity and open interest was limited to the largest cryptocurrency by market capitalization. Ether (ETH) futures followed with $64 million in losses.