Over $465M Bitcoin positions liquidated as BTC reclaimed $50,000

TL;DR Breakdown: Over $465 million short Bitcoin positions have been liquidated as BTC retouched $50,000. The increase in Bitcoin follows a massive drop in all exchange balances, as analyst Will Clemente predicted. In less than 24 hours, more than $465 million worth of Bitcoin positions has been liquidated following the increase in BTC to over $50,000. This accounts for all the short futures Bitcoin positions in several derivative trading platforms that got over-leveraged due to the sudden increase in Bitcoin. $158 million Bitcoin positions closed on OKEx According to CryptoRank, OKEx had the most liquidated value. More than $158 million worth of short Bitcoin positions were forcedly closed on their platform, followed by Bybit, which recorded about $142 million BTC liquidation. The leading crypto exchange, Binance, only had $59 million short positions that were liquidated. About $465M of Positions Gets Liquidated Due to #BTC Rise Above $50,000– $158M on @OKEx;– $142M on @Bybit_Official;– $59M on @Binance;– $48M on @HuobiGlobal;– $44M on @FTX_Official;– $7M on @BitMEX;– $4M on @DeribitExchange ;– $600K on @Bitfinex. pic.twitter.com/ScSLgC7iEY— CryptoRank Platform (@CryptoRank_io) September 2, 2021 The liquidation of Bitcoin positions is a common occurrence, given the volatile nature of the asset. An increase or decrease in the price of Bitcoin would liquidate short or ...