Hundreds of Thousands of Traders Lose Rp18 Trillion Amid Escalation of Middle East Conflict
The crypto market has again experienced a liquidation of US$1.1 billion or equivalent to Rp18.3 trillion, after Bitcoin (BTC) fell to the level of US$103 thousand, on Friday (06/13). This occurred amid escalating conflict due to Israel's attack on the Natanz Nuclear Facility in Tehran, Iran.
Interestingly, the losses were dominated by traders who took long positions, primarily in Bitcoin, with total losses reaching US$455 million. Meanwhile, in Ethereum (ETH), the amount liquidated was US$268 million.
Overall, this liquidation affected around 247,063 traders. With long positions, traders recorded liquidations of US$1.05 billion, while short traders only saw US$82 million.
The exchange contributing the largest liquidation was Binance with US$457 million. Next, Bybit with US$371 million, then OKX with US$125 million.
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