RATE Group | Bitcoin Craters to $9,300, Liqudating $120 Million in BitMEX Longs
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Bitcoin Craters to $9,300, Liqudating $120 Million in BitMEX Longs

19 Feb Bitcoin Craters to $9,300, Liqudating $120 Million in BitMEX Longs

Posted at 22:10h in Bitcoin News by

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It seems that Bitcoin’s plunge has accelerated since our last price update posted just minutes ago. We wrote our last update when the cryptocurrency was trading at $9,900 after sustaining a 2% drop in a few minutes’ time.

Now the cryptocurrency is trading for $9,600, falling as low as $9,300 just minutes ago as of the time of writing this. This marks a nearly 10% drop from the daily high of $10,300.

Bitcoin Crash Liquidates Over $100 Million in Positions

According to data from Skew.com, a leading cryptocurrency data provider for derivatives, over $120 million worth of BitMEX long positions were liquidated in this massive flash crash lower.

More positions are being liquidated as I write this, with the price of Bitcoin continuing to whipsaw between $9,400 and $9,700, with volatility going through the roof.

The cryptocurrency has yet to establish any support or resistance, with this move being too recent for a short-term range to have been formed.

SmartContracter, the cryptocurrency…

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