Editor's PiCK
"Bitcoin, approximately ₩1.6 trillion liquidated in the past 24 hours…Largest loss this year"
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- CoinDesk reported that approximately ₩1.584 trillion worth of positions were liquidated in the global virtual asset derivatives market over the past 24 hours.
- According to Coinglass, the largest single transaction was the liquidation of a Bitcoin long position worth $200 million on Binance, with long position holders experiencing losses of about ₩1.379 trillion.
- The media noted that the recent IPO of Circle and US-driven DeFi expectations triggered excessive buying pressure, resulting in the rapid collapse of leveraged positions.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
The virtual asset (cryptocurrency) market has suffered large-scale liquidations, marking the biggest loss of the year so far. Approximately ₩276 billion disappeared from a single trader's long position in Bitcoin alone.
According to CoinDesk, a media outlet specializing in virtual assets, a total of $1.15 billion (about ₩1.584 trillion) worth of positions were liquidated in the global virtual asset derivatives market over the past 24 hours. This is regarded as one of the largest liquidations so far this year.
The largest single transaction was the liquidation of a $200 million (about ₩276 billion) Bitcoin long position on Binance.
On the same day, data platform Coinglass reported that as a result of this liquidation, a total of over 247,000 traders were forced to close their positions. The majority of these were long position holders, who are estimated to have suffered losses totaling more than $1 billion (about ₩1.379 trillion).
The outlet pointed out, "The recent IPO of Circle and expectations surrounding DeFi from the US may have triggered excessive buying pressure, which led to this round of liquidations," adding, "This is a textbook example of leveraged positions based on optimism collapsing all at once."
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