The derivatives market has suffered another large-scale liquidation of positions amid the fall in the value of Bitcoin and other cryptocurrencies.
As we all know, BTC has been falling steadily over the past few days, with the largest sales being recorded in the Asian markets.
The price of Bitcoin has fallen to $41,544 today, while its capitalization has fallen by more than 12% to $785.976 billion this week.
According to CoinGlass, during the last 24 hours, crypto exchanges have liquidated more than $800 million worth of positions.
In just 12 hours, positions worth $210 million have been canceled. The largest part of the contracts was closed on Binance and OKEx.
The trading floor goes to the forced cancellation of positions in the event that the futures contract starts to bring unacceptable losses. According to experts, as volatility escalates, liquidation in the crypto derivatives market is common.
Regarding the open interest in Bitcoin futures, it has fallen today to $16.96 billion.