Summary
TLDR: $195 million of leveraged derivatives positions were liquidated in a sudden resurgence, with $129 million being short positions. Bitcoin short liquidations reached $53 million, below recent daily averages.
Key Points
1. The sudden resurgence in the crypto market led to the liquidation of $195 million of leveraged derivatives positions across all crypto assets.
2. Out of the total liquidated amount, $129 million were short positions that were seeking to profit from lower prices.
3. Bitcoin short liquidations reached $53 million during this period, which was less than the average daily figure of the recent period.