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    Bitcoin experienced a brief crash to $8,900 triggered by a single sale of over 850 BTC on the BitMEX exchange, while other exchanges maintained prices over $60,000. This caused over $440 million in liquidations for crypto futures traders who had bet on higher prices. Long positions on bitcoin alone lost $100 million, while ether, Solana, and dogecoin saw $120 million in combined long liquidations, mostly on the Binance and OKX exchanges. Bitcoin began dropping late on Monday alongside record outflows of $640 million from Grayscale's bitcoin fund, as Binance conducted enhanced KYC checks on clients to avoid serving U.S. nationals.

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    Bitcoin experienced a brief crash to $8,900 triggered by a single sale of over 850 BTC on the BitMEX exchange, while other exchanges maintained prices over $60,000. This caused over $440 million in liquidations for crypto futures traders who had bet on higher prices. Long positions on bitcoin alone lost $100 million, while ether, Solana, and dogecoin saw $120 million in combined long liquidations, mostly on the Binance and OKX exchanges. Bitcoin began dropping late on Monday alongside record outflows of $640 million from Grayscale's bitcoin fund, as Binance conducted enhanced KYC checks on clients to avoid serving U.S. nationals.

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    1 views1 page

    News For The Fin Tech

    Uploaded by

    S. Ameer Ali
    Bitcoin experienced a brief crash to $8,900 triggered by a single sale of over 850 BTC on the BitMEX exchange, while other exchanges maintained prices over $60,000. This caused over $440 million in liquidations for crypto futures traders who had bet on higher prices. Long positions on bitcoin alone lost $100 million, while ether, Solana, and dogecoin saw $120 million in combined long liquidations, mostly on the Binance and OKX exchanges. Bitcoin began dropping late on Monday alongside record outflows of $640 million from Grayscale's bitcoin fund, as Binance conducted enhanced KYC checks on clients to avoid serving U.S. nationals.

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    Publication Name: <Plus Company Updates>

    Date: 19-03-2024

    Story ID: PCU RLPMN906953

    Credit Line: Staff Reporter

    Head Line: America's leading Mover: declining Bitcoin prices, rising


    liquidation

    Article Type: News

    Subject: Business

    Bitcoin experienced a short-lived crash to $8,900 on BitMEX, the lowest price since
    early 2020, with prices on other exchanges holding well above $60,000. The crash
    was triggered by a so-called whale selling over 850 BTC ($55.49 million) on BitMEX,
    driving the XBT/USDT spot pair lower. Over $440 million in liquidations were caused
    by crypto futures traders betting on higher prices, with some expecting bitcoin to
    slide to $55,000 in the short term.

    Long bets on bitcoin took on $100 million in losses alone, with ether, Solana’s
    SOL, and dogecoin DOGEUSD taking on a cumulative $120 million in long liquidations.
    The most liquidations took place on Binance, followed by OKX at $170 million.
    Bitcoin started to drop late U.S. hours on Monday amid record high outflows from
    Grayscale’s GBTC exchange-traded fund (ETF) at over $640 million. Binance is asking
    its prime brokers to conduct enhanced know-your-customer (KYC) tests on clients to
    ensure they aren't serving U.S. nationals.

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