Posted 11/9/2023, 6:35:00 PM
Crypto Prices Swing Wildly, Triggering $400M in Liquidations - The Most Since August Crash
- Bitcoin and Ethereum see huge price swings, leading to over $400M in liquidations - the most since August crash
- BTC topped $36K and $37K for the first time since May, while ETH went over $2K
- Optimism over potential Grayscale Bitcoin ETF conversion and BlackRock Ethereum ETF filing fueled rally
- BTC later retreated toward $35K level after hitting highs
- Massive leverage wipeout liquidated $241M shorts and $200M longs across crypto
- Largest single-day liquidations since mid-August crash that sent BTC below $25K
- Open interest plunged 12% or $3B as leveraged positions closed out