Short Trades Make up 90% of $200M in Losses as Bitcoin, Ether Surge

MARKET_WATCH Crypto

Join the most important conversation in crypto and web3! Secure your seat todayTraders betting on a market-wide decline were caught off guard as a broader market recovery in the past 24 hours saw $185 million in shorts, or bets against price rises, getting liquidated.That contributed to over $200 million in overall liquidation losses. Liquidation refers to when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader is unable to meet the margin requirements for a leveraged position (fails to have sufficient funds to keep the trade open).

 

Large liquidations can signal the local top or bottom of a steep price move – which may allow traders to position themselves accordingly.Bitcoin-tracked futures saw over $85 million in liquidations alone, the highest among all cryptocurrencies. Ether futures logged $58 million in liquidations, while futures of aptos, solana and solana each saw losses between $3 million to $4 million.Crypto exchange Binance recorded the most losses among its counterparts at $68 million, followed by OKX at $51 million.Crypto market capitalization increased 8.8% to reach its highest level since November, erasing losses from the contagion effects stemming from FTX’s collapse and troubles at crypto lender Genesis. (Genesis and CoinDesk share the same parent company, DCG.)Bitcoin and ether rose to over $24,500 and $1,600 respectively, leading to a market-wide recovery. Okb, the Native tokens of crypto exchange OKX, surged 20%, the most among major cryptocurrencies, while BNB Chain’s bnb (BNB) rose to $323 in Asian afternoon hours – reversing losses from earlier this week.Tokens of layer 1 blockchains solana (SOL) and matic (MATIC) added 10% apiece in the past 24 hours. Elsewhere, artificial intelligence-focused tokens such as fetch (FET) and AGIX continued their week-long run, adding over 12%. 

 

Source : [Short Trades Make up 90% of $200M in Losses as Bitcoin, Ether Surge](finance.yahoo.com/news/short-trades-90-200m-losses-072201342.html) undefined - Yahoo crypto / February 16, 2023

Join our 70k+
tribe of Akters

Have any questions?

Check our Q&A

About the AKTIO coin

Benefit fully from our ecosystem

What’s new in the App?

We’re adding new features

Customer support

support@akt.io

+353 1 574 7382

+39 06 4525 6900

Opening hours:

Monday to Friday: 9am - 5pm CET

Company

About

AKTIO coin

Careers

Learn

News

Glossary

AKT Academy

Help

FAQ

Sitemap

System Status

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata ICO Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

Automata Pay Ltd, Reg number 12208424 and incorporated in the United Kingdom is the registered agent of Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573). Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata Pay Europe Limited, Reg number 69028 and incorporated in Ireland is the registered agent of Modulr FS Europe Limited, a company registered in Ireland with company number 638002, authorised and regulated by the Central Bank of Ireland as an Electronic Money Institution (Institution Code C191242). Traditional currency is safeguarded as e-money in accordance with our regulatory obligations. Traditional currency will be safeguarded by a licensed bank in segregated accounts in accordance with regulatory requirements.

Automata ICO Limited, Reg number 690280 and incorporated in Ireland has applied for a Virtual Asset Service Provider registration with the Central Bank of Ireland. Whilst the application is ongoing we are permitted to continue business as a Virtual Asset Service Provider in line with the Central Bank of Ireland's regulatory disclosure statement as required under section 106L of the CJA 2010 in relation to registered VASPS. It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Automata ICO Limited does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. The Financial Ombudsman Service or the Financial Services Compensation Scheme do not apply to the cryptoasset activities carried on by Automata ICO Limited.