September 25, 2019, 7:22PM EDT
• 2 min read

Taking a deeper look into yesterday’s bitcoin price drop

Quick Take

  • Most of yesterday’s BTC price action occurred between 6:45 and 7:45 p.m. (UTC), declining nearly 14% to $8,000
  • Within this time frame, open interest of bitcoin contracts on Bitmex declined from $1 billion to $840 million
  • This was caused by $480 million in liquidations, offset slightly by the opening of new positions
  • Volume on spot markets increased with outsized growth coming from Bitfinex

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