Yesterday’s 14% sudden drop in Bitcoin (BTC) within 15 minutes shook the margin investors deeply.
According to market data collector Cryptometer, after Bitcoin’s price fell from $ 9,450 to $ 8,101 in 15 minutes, only $ 295 million of liquidation occurred in BitMEX. 98% of this liquidation took place in the long position, while the liquidation in the short position was worth $ 5.7 million.
The amount of liquidation in Ripple (XRP) was limited to $ 12.3 million and the liquidation amount in Ethereum (ETH), which is the second largest cryptocurrency, was limited to $ 6.5 million. The liquidations in XRP and ETH represent only 0.02% and 022% of the liquidation in the total market, respectively.
Due to the fact that the liquidation process took place in such a fast time, many retail investors’ dreams of earning waited in the long term after the half-up were thus dropped. What is not taken into consideration is that Bitcoin has already gained 150% in less than two months.
Many top crypto exchanges have also published articles highlighting the rise in recent weeks to draw attention to the half-life efficiency. We can say that this situation caused some users to be damaged.
For example, on May 5, Bittrex Global sent an e-mail to its users, entitled “Buy More Bitcoins Before Splitting” and opened an additional limit to its users. Most of the users who bought BTC on the mail received on May 5 were damaged.
On May 9, the high leverage derivative stock exchange Bybit revealed its users the reasons that Bitcoin will switch to a bullish trend in the short term. Users who bought BTC with $ 5x or more leverage at $ 10,000 were seriously damaged.