Crypto Futures See $300M in Losses After Spot Market Drops

Crypto Futures See 0M in Losses After Spot Market Drops
A drop in crypto markets from Monday evening (UTC) prompted almost $300 million in liquidations across several crypto futures, data from analytics tool Coinglass showed. More than109,000 traders’ positions were liquidated in the past 24 hours.Bitcoin prices rose above $52,000 on Monday before tumbling as much as $3,000 early Tuesday, causing over $94 million in liquidations. Such figures were last seen earlier this month after bitcoin fell as low as $41,000 from highs around $69,000 in November. Losses due to liquidations exceeded $435 million at the time.Liquidations occur when an exchange forcefully closes a trader’s leveraged position as a safety…