Binance sees near $800 million in liquidations as bitcoin sinks
AI summary
Bitcoin's price drop triggered nearly $800 million in liquidations on Binance, part of a broader $2.05 billion in liquidations across tracked exchanges recorded by CoinGlass. The overwhelming majority of the wiped-out positions were longs betting on rising prices. Traders should note the heavy long-side flush, which signals crowded bullish positioning being forcibly unwound and can amplify downside volatility.
