Huge amounts of Bitcoin futures have been liquidated on Binance, as Bitcoin witnessed a 20 percent correction, according to the latest data.



Recent analytics data shared by Glassnode indicate that on Monday, January 11, the long-focused Bitcoin positions of $ 410 million, which were prominent in futures contracts, were liquidated on the Binance exchange.


Greatest value

Glassnode points out that this amount is the largest daily value to date.

As a reminder, Bitcoin started correcting on January 10, and this correction continued the next day. Bitcoin, which lost more than 20 percent in value, fell from $ 41,000 to $ 31,153.

However, the flagship crypto has so far returned to $ 35,800, according to data from CoinMarketCap.

Earlier this year, on January 4, $ 190 million Bitcoin in futures contracts was liquidated in just 10 minutes, causing Bitcoin to bounce back from $ 34,000 to $ 30,000.

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