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$89 Million Longs liquidated on Bitmex amid Bitcoin Crash

This week has been a crazy one for every Bitcoin investor as well as an analyst. We have seen the “W” trend in the charts of Bitcoin trading prices, and recently another dip occurred that took the whole crypto world by a storm.

Just an hour ago, Bitcoin came down crashing from $10200 to $9450 within 10 minutes, and that drop was faster than our jaws dropping when we saw the dip. Traders were positive about the rise in the price of bitcoin, but the market decided to give them a weekend surprise.

This crash may have caused losses to many investors, but out of all the things, the craziest part is the $89 million longs were liquidated on BitMEX because of the drop. Traders had such high hopes from the rise that they decided to go all out and take leverage on the rise of the price.

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