Bitcoin’s 2-day fall of more than $3000 has cost leveraged positions heavily. More than $60 million in long positions were liquidated in Bitcoin in 24 hours. The volatility in the last 1 hour did not benefit short positioners. During this time, short positions lost $2.2 million.

The situation was more severe in total crypto liquidations. Within 24 hours, $208 million worth of long positions and $34 million worth of short positions were liquidated. The total figure exceeded $240 million.

$5 million in 1 hour

The crypto short position liquidated in the last 1 hour exceeded $5 million. For long positions, this figure was only $450,000.

The biggest reason for the price drop in Bitcoin is the recent halt in inflows to spot ETFs in the US. Yesterday’s figures showed that BlackRock failed to receive investment for the first time in 71 days. ETFs closed yesterday with a net loss of $130 million.

Bitcoin, which broke a record with a price of $73,000 in March, is trading at around $64,900 in the minutes when the news was written.