Bitcoin continued to decline on Thursday night, as a result of which positions totaling over $810 million were liquidated on the cryptocurrency market during the day.
The first cryptocurrency reached the level of $42,500 during the Asian trading session, starting the day at about $47,000. Traders lost $317 million on bitcoin futures alone; 87% of liquidated positions were long.
The same ratio was noted for futures of other cryptocurrencies. Liquidations totaling $241 million took place on the OKEx exchange, Binance is in second place with $236 million. Binance, being the largest crypto exchange in terms of trading volumes and open interest, transmits incomplete information about liquidations, so the real value may be significantly higher.
Relative to the last days of December, the volume of active positions on the futures market decreased by 15%. The voluntary closing of positions by traders in conditions of unclear prospects for further movements also played a role.
The next stage of correction of the crypto market began in December and led to a decrease in most assets by 10-20%, but yesterday's drop was the most noticeable in recent days. Bitcoin at the time of publication is trading at $43,000, having lost 7.5% of its value per day.