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$200M of Bitcoin long liquidations as BTC drops to $22k

Due to the build up of futures open interest, the crypto market saw nearly $250M of liquidations in the past 24 hours.

James Van Straten
Mar. 3, 2023 at 10:35 am UTC
1 min read
Updated: Mar. 3, 2023 at 10:35 am UTC

Quick Take

  • Over $200M of long liquidations were wiped out on March. 3, according to Coinglass.
  • Over 90% of the liquidations were long.
  • This was due to a build-up of Futures Open Interest which continued to increase as February was ongoing.
  • Last week, CryptoSlate monitored the excessive build-up of Futures OI that exceeded 500k, which as a result, gave us the liquidations we were waiting for.
Total Liquidations: (source: Coinglass)
Total Liquidations: (source: Coinglass)
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James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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