Bitcoin Orders Closed for $1.65 Billion
On Tuesday morning, the bitcoin exchange rate fell to $53000, which led to a large-scale liquidation of margin positions of traders. A total of $1.65 billion worth of orders were closed. According to the analytical portal Bybt, long positions were closed by one and a half billion. Traders who opened sell orders lost only $165 million. If we count by assets, then bitcoin was liquidated for $880 million of positions to buy and one hundred million to sell. In second place was ethereum, and in third – the Cardano cryptocurrency. Note that yesterday was far from a record in terms of the volume of liquidations. Just a week ago, on March 14, the volume of closed positions when the market fell exceeded $2 billion.
According to the digital asset management company CoinShares, last week, institutional investors significantly reduced their investments in cryptocurrency – up to $99 million. A week earlier, the figure was noticeably higher and amounted to $242 million. At the same time, the demand decreased from American companies, European and Canadian firms continued to buy cryptocurrencies. Despite the decline in the rate of investment inflows, the total volume of digital assets of institutional investors in cryptocurrency funds has already reached $57 billion. Of the funds invested last week, almost 95% were invested in bitcoin and ethereum products. Interest in Bitcoin Cash, Ripple, and Binance Coin funds was extremely low.