15% drop in BTC rate caused BitMEX $226M positions loose

by in Cryptocurrency News


The price of bitcoin fell sharply from $9,500 to $8,100 at 7 AM Central time on May 10, losing 14.6% in just 10 minutes. Since then, the price has recovered to $8800.

As a result of a sudden drop, the volume of liquidations of positions on the BitMEX crypto derivatives exchange reached $226 million.

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This decline was the stop of the Bitcoin rally after lows in mid-March. In April, the price of bitcoin increased by 38% - from $6,200 to $8,600. The price continued to rise in early May and since May 7 has fluctuated around the level of about $10,000.