BitMEX short liquidations hit $131.4 million as BTC surges to $8,800

27 May, 2019
Analysis
BitMEX short liquidations hit $131.4 million as BTC surges to $8,800

The recent BTC price surge on Sunday, which saw bitcoin hovering around $8,000 before smashing a new 2019 high of $8,800 has left many BitMEX margin traders sitting at a loss. A loss totalling $131.4 million to be exact. 

The recent move, which appears to show that most BitMEX traders were in short positions against Bitcoin, have no paid with their positions being liquidates as bitcoin smashed new 2019 highs just below $9,000. 

BitMEX saw an influx of liquidations totalling $131.4 million when Bitcoin price spiked. At the time, there were nearly 40 million short trades versus 287,000 long trades. 

At the current time of writing, longs have become more dominant, with over 1 million long positions versus 58,000 short positions. Currently Long liquidations dominate with $1.9 million in liquidations over the past 6 hours. 

The BitMEX insurance fund continues to grow, with the fund now sitting at 26,667.5886 BTC, or $234,674,779. 

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Read more about: Bitcoin (BTC) Bitmex

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