- $209M worth of positions just got wiped today.
- The market may see even more positions liquidated in the coming hours.
- Investors are advised to remain vigilant as they re-enter the markets.
According to data compiled by Cryptonewsland, fresh concerns about the economic downturn caused asset prices to plummet today. Some investors suffered significant losses after closing down many investments for a total of $209 million.
This reportedly took place today as the whole market capitalization maintained its downward trend, according to the reports. In addition, Bitmex was the location of the single liquidation order that had the highest value in terms of XBT/USD: $2.61M.
As the market is trying to navigate through current turbulence, we may see even more positions liquidated in the coming hours according to experts. It is clear that today’s market movement has been an extreme outlier, generating an unprecedented amount of volatility across regions and asset classes.
Many market participants have taken their profits and booked losses with this rapid decline. With news and economic data continuing to come in sporadically, the market is likely to remain volatile and unpredictable.
This recent dip in the market has demonstrated the dangers of overly-aggressive trading and leverage. Many investors have therefore adopted a more conservative approach to trading and are opting to build their positions slowly and step back in slowly as the markets stabilize.
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As the market slowly finds its footing again, prospects can expect to see more investors re-entering the markets according to experts. Until then, investors should remain vigilant as they re-enter the markets, and should be mindful of the risks that come with trading in this highly volatile arena. They should also develop a long-term trading strategy while investing with caution in the present.
Disclaimer: The views and opinions, as well as all the information shared in this article, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Cryptonewsland and affiliates will not be held liable for direct damage or loss.
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