This one’s huge: Binance Forced to liquidate $410M in Bitcoin Futures

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New analytics data shared by Glassnode states that an eye-popping $410 million worth of Bitcoin long positions in futures contracts was liquidated on the Binance Market on Monday, Jan. 11.

Glassnode points out that this number has been the highest daily value to date.

BTC

Image via Twitter

As a recall, Bitcoin started to correct on Jan. 10 and proceeded the next day, dropping more than 20 percent overall and dipping from $41,000 down to $31,153.

By now, however, the flagship crypt has recovered to the $36,500 region, according to data from CoinMarketCap.

Earlier this year, on January 4, Bitcoin’s huge $190 million in futures contracts was also liquidated on Binance in just 10 minutes, leading Bitcoin to roll down from the $34,000 zone to $30,000.

 

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