Data shows the crypto futures market has observed more than $400 million in liquidations during the last 24 hours as Bitcoin breaks above $23k.
Mass liquidations in the crypto market aren’t too uncommon for a couple of reasons.
“Leverage” is a loan value that any futures user can borrow against the margin.
This, combined with the volatile nature of even the biggest coins like Bitcoin, can make uninformed margin trading in crypto futures quite risky.
Over the past month, the crypto has gained 11% in value.
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