- Posted by: Guillaume
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CRYPTO NEWS : Latest BITCOIN News, OKEx News, BINANCE News, BITMex News
Bitcoin tests $ 12,000 and crashes
On Sunday morning, August 2, the bitcoin price surpassed the $ 12,000 mark, but could not stay above it. Within a few minutes, the quotes of the leading cryptocurrency fell to the level of $ 10,500.
The sharp price movement led to a cascade of liquidations of positions on crypto derivatives exchanges. On BitMEX, liquidation volume amounted to $ 147 million per hour.
The total volume of liquidated positions in crypto derivatives during the fall exceeded $ 1 billion.
According to The Block analyst Larry Chermak, open interest in bitcoin futures has dropped by $ 107 million over the past 24 hours on BitMEX. The indicator has also decreased by more than $ 50 million on OKEx, Huobi and Binance.