#MarketPullback
Bitcoin Pullback Triggers $1B In Liquidations
Bitcoin $BTC has pulled back from its recent highs around $124K to currently trade at $115k. This dip triggered more than $1 billion in leveraged position liquidations, mostly from those long on price expectations.
This has caused a ripple effect across the entire cryptocurrency market leaving traders counting heavy losses.
Bitcoin is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under the pseudonym of Satoshi Nakamoto.
Use of bitcoin as a currency began in 2009, with the release of its open-source implementation.