The weekend didn't do justice to Bitcoin price as it fell below $51,000, erasing some of the gains made during the past few days' rally.
As can be seen in the chart below, the price has deteriorated over the past few hours.
Source: TradingView
Data from CoinGlass shows that this has also sent ripples across the derivatives market, with a total of $122 million liquidated in the last 24 hours.
As expected, the volume of these moves is significantly lower than that of the rally during the week. The cumulative trading volume on all exchanges was almost $70 billion last day, while it exceeded $100 billion in the previous days.
85% of liquidated positions were long positions, and Binnace is responsible for almost half of all liquidations.
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