June 21 (Cointime) - The crypto futures market has experienced liquidations worth almost $180 million in the past 24 hours as Bitcoin surged towards $29,000. Liquidation occurs when a futures contract holder accumulates losses equal to a specific percentage of the margin, leading to the contract being forcibly closed.
The risk of liquidation is significantly affected by the amount of leverage being used and the volatility of the coin. In the past day, there has been sharp price action in the market, resulting in the liquidation of a large number of traders, with Bitcoin accounting for the largest portion of the liquidations at about $89 million.
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