The volume of liquidations on exchanges in the last 24 hours exceeded $920 million
On the night of August 26, the price of Bitcoin dropped to $108.6 thousand. At the moment, the quotes have recovered to around $110 thousand.
The majority of liquidations were in positions $BTC and $ETH (almost $600 million). Following them are #SOL ($48 million), $DOGE and #XRP almost at $30 million each.
Forced liquidation occurs when a leveraged trader loses a significant portion of their collateral due to the market moving against their position. During a price drop, this primarily affects long positions. When losses reach a critical level, the exchange automatically closes the position to limit risks.
Most liquidations of margin trading positions (over $800 million) were in long positions, meaning they were betting on a price increase.
