Bitcoin Sees $10.1 Million in One-Hour Liquidations, Mostly Shorts

Bitcoin (BTC) recorded $10.1 million in liquidations during the hour ending 10:50 a.m. ET (14:50 UTC) Thursday, Oct. 29, with short positions accounting for $9.55 million as BTC advanced 0.91%. TokenPost collected and combined public liquidation data from Binance, Bybit and OKX for the interval. The $10.1 million figure covers those three exchanges, not the entire crypto market. Short positions accounted for $9.55 million, while long positions accounted for $560,000. The short liquidation value was about 17 times the long liquidation value. BTC traded at $80,093 at the beginning of the hour and $80,819 at the end, a $726 increase. A short position is a trade that benefits from a decline in an asset’s price, so short-side liquidations dominated while Bitcoin rose during the same hour.

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