Bitcoin, ether and XRP selloff wipes out $1.5 billion in leveraged crypto bets
Summary
A major crypto selloff involving bitcoin, ether, and XRP recently erased one and a half billion dollars in leveraged positions. The vast majority of these forced closures impacted bullish traders anticipating higher prices, with Binance processing nearly half of the total volume. A subsequent market rebound has since begun liquidating bearish traders.
Bets on rising prices accounted for nearly 84% of forced closures, with Binance handling almost half the total. A rebound has since started catching short sellers.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
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