The whipsaw in prices caught some crypto derivatives traders off-guard, liquidating roughly $100 million worth of leveraged trading positions over the past 24 hours, according to Coinglass data. Short traders, who attempted to profit from lower prices, endured $60 million in losses, while long traders, who bet on higher prices, suffered $40 million in losses.
Source: https://www.coindesk.com/markets/2023/09/18/bitcoin-gives-up-27k-in-sharp-tumble-as-crypto-liquidations-top-100m/?utm_medium=referral&utm_source=rss&utm_campaign=headlines