COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Traditional Exchanges’ Volatility Outpaces Bitcoin
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Cryptocurrency News > Traditional Exchanges’ Volatility Outpaces Bitcoin
Cryptocurrency News

Traditional Exchanges’ Volatility Outpaces Bitcoin

In Brief

  • Bitcoin's drop triggers a billion-dollar loss for traders.

  • Open interest in BTC, ETH, and SOL plummets significantly.

  • Approximately 312,500 investors liquidated in the market downturn.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Bitcoin (BTC) began to decline from its all-time high of $69,200 on March 5th, resulting in a staggering loss of $1 billion for crypto traders using options and futures contracts to invest in the cryptocurrency. This drop in the largest cryptocurrency also hit altcoins and changed many things across the market.

Contents
Significant Drop in Open Interest312,500 Investors Pushed Out of the Market

Significant Drop in Open Interest

According to a March 6th post by crypto analysis platform Santiment, the over 14% drop in Bitcoin‘s price led to a significant decrease in the open interest (OI) of BTC, Ethereum (ETH), and Solana (SOL) on exchanges.

Bitcoin’s open interest fell by $1.46 billion within hours, while Ethereum’s dropped by $967 million and Solana’s by $424 million. This decline in open interest followed shortly after Bitcoin briefly surpassed its all-time high of $69,200, slightly exceeding its previous peak of $69,044 in November 2021.

Santiment highlighted that most of the speculation surrounding Bitcoin’s price increase came from traders opening long positions in anticipation of the largest cryptocurrency breaking the $70,000 barrier. Additionally, a smaller portion of the decrease in open interest was due to the liquidation of short positions as Bitcoin reached its all-time high.

The reduction in the number of open positions is seen by some analysts as a temporary removal of speculative excess from the market. Open interest represents the total value of traders’ open positions in derivative contracts; it increases with new positions and decreases when existing positions are closed.

In the past few weeks, traders had been increasing their bets on Bitcoin’s price movement reaching new highs, pushing the number of open positions to record levels. Despite Bitcoin’s sudden downward price movement, many experts argue that exits in derivative trading are a normal part of market dynamics.

312,500 Investors Pushed Out of the Market

Cryptocurrency analyst Daan Crypto Trades informed his followers on social media platform X that the sharp drop in Bitcoin’s price resulted in the liquidation of many long positions, with about $3 billion in open interest wiped out during the correction. Data from Coinglass shows that approximately 312,500 investors were liquidated, with the total liquidation amount reaching $1.13 billion in the last 24 hours.

Current data indicates that Bitcoin is now trading at $63,600, which represents an 8% decrease from the previous day’s all-time high price level.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Andrew Peel Ignites New Crypto Venture in Switzerland

Thailand Takes Bold Step with $150 Million G-Token Initiative

Exciting Surge As Major Companies Snap Up Bitcoin

Crypto Markets Surge as Global Economic Tensions Decrease

Fed Eases Crypto Markets with Strategic Moves

COINTURK NEWS 6 March, 2024 - 9:09 am 6 March, 2024 - 9:09 am
Share This Article
Facebook Twitter
Share
Previous Article Current Status of Bitcoin and Altcoins
Next Article The Launch of Raffle Coin (RAFF) Decentralized Platform Sees Solana (SOL) & Polkadot (DOT) Holders Scramble to Buy Early
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Ethereum’s Meteoric Rise Shifts Market Focus
Ethereum (ETH)
XRP’s Meteoric Rise Attracts Crypto Enthusiasts Worldwide
Ripple (XRP)
Pi Network Thrives Despite Upcoming Coin Releases
Altcoin News
Crypto Coins Surge as Altcoin Season Gathers Momentum
Altcoin News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?