{"id":203189,"date":"2021-03-16T07:26:06","date_gmt":"2021-03-16T04:26:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/extreme-leverage-drove-500-million-worth-of-btc-liquidations-in-one-hour\/"},"modified":"2021-03-16T07:26:06","modified_gmt":"2021-03-16T04:26:06","slug":"extreme-leverage-drove-500-million-worth-of-btc-liquidations-in-one-hour","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/extreme-leverage-drove-500-million-worth-of-btc-liquidations-in-one-hour\/","title":{"rendered":"# Extreme leverage drove $500 million worth of BTC liquidations in one hour"},"content":{"rendered":"<p>&#8220;<strong># Extreme leverage drove $500 million worth of BTC liquidations in one hour  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvZDRhZGQ0ZTAtOTAwOS00YjA1LWJiMTgtMTJmMzJiZDkxZmU0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>The Bitcoin markets emphatically rejected the $60,000 price range on March 15, with excessive leverage driving a record $500 million worth of long liquidations over just 60 minutes.<\/p>\n<p>Glassnode\u2019s founders, Jan &amp; Yann, emphasized the new record hourly Bitcoin for liquidations, noting that more than half open futures contracts prior to the margin calls were leveraged by at least 20 times.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In the last hour alone, nearly $500M in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Longs got liquidated, this is a historic ATH. <\/p>\n<p>There is excess greed in the system, with 60% of contracts levered 20x or more. <\/p>\n<p>Long liquidations are an artifact of the current bull market. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/n9NciJcS62\">pic.twitter.com\/n9NciJcS62<\/a><\/p>\n<p>\u2014 Jan &amp; Yann (@Negentropic_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Negentropic_\/status\/1371414383822266369?ref_src=twsrc%5Etfw\">March 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>However, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptounfolded\/status\/1371395224149356544\">data<\/a> from Bybt suggests $800 million worth of liquidations were processed over just 15 minutes.<\/p>\n<p>According to crypto market data aggregator,<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/datamish.com\/btcusd\/24h\"> Datamish<\/a>, the past 24 hours saw 292 positions liquidated for $94.5 million on derivatives exchange, BitMEX. On Bitfinex, 488 positions were liquidated for roughly $100 million over the same period.<\/p>\n<p>The second largest single-day liquidation came on Feb. 22, when BTC fell from its then all-time high of $58,300 to around $47,000. As reported by Cointelegraph, $5.9 billion worth of futures contracts were liquidated during the crash.\u00a0<\/p>\n<p>Since its March 14 peak of $61,000, Bitcoin has corrected by 12.3% to $53,500 during Asian trading on Tuesday, March 16. BTC has since produced a slight recovery, last changing hands for $54,600 as of this writing.<\/p>\n<p>This latest correction is the third major retracement of the current bull cycle.<\/p>\n<p>While the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Bitcoin Fear and Greed Index<\/a> suggested the markets were in a state of \u201cextreme greed\u201d last week, the retracement has seen the indicator fall back into the \u201cgreed\u201d category with a rank of 71 \u2014 indicating a significant cooling of market sentiment.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/extreme-leverage-drove-500-million-worth-of-btc-liquidations-in-one-hour\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Extreme leverage drove $500 million worth of BTC liquidations in one hour &#8221; The Bitcoin markets emphatically rejected the $60,000 price range on March 15, with excessive leverage driving a record $500 million worth of long liquidations over just 60 minutes. Glassnode\u2019s founders, Jan &amp; Yann, emphasized the new record hourly Bitcoin for liquidations,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":203190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvZDRhZGQ0ZTAtOTAwOS00YjA1LWJiMTgtMTJmMzJiZDkxZmU0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,3123],"class_list":["post-203189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-leverage"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/203189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=203189"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/203189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/203190"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=203189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=203189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=203189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}