$BTC traded down 5% early Friday, a day after a spout of negative developments surrounding crypto-friendly silvergatebank. $ETH also lost ground. LedesmaLyllah reports.
with exchanges liquidating longs or bullish bitcoin futures worth over $62 million during Asian trading hours on Friday. That's the highest amount since August, according to data from Glassnode. Meanwhile, short liquidations totaled just over $500,000. Liquidation happens when the market moves against a trader's bullish or bearish bet, leaving him or her with insufficient funds to keep the leveraged trade open.
The dominance of long liquidations shows the leverage was skewed on the bullish side, meaning most traders were positioned for a price rally.from the Wall Street Journal, saying FTX identified that amount in customer funds that it can’t account for. On Thursday, FTX, a crypto exchange that filed for bankruptcy in November, said it had identified around $2.7 billion of customer assets, compared with $11.6 billion of balances outstanding on customer accounts.
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