Bitcoin

<h2 id="quick-take">Quick Take</h2> 
Today, Nov. 27, Bitcoin slipped below the $37,000 mark, recording its lowest value since Nov. 22., reaching $36,800. This plunge led to a considerable ripple effect, causing the crypto market to witness liquidations worth $130 million, according to <a href="https://www.coinglass.com/LiquidationData">Coinglass</a>. 
A substantial portion of these liquidations, approximately $100 million, were from long positions. Binance oversaw the lion’s share of these liquidations, accounting for nearly $55 million, according to Coinglass. 
Analyzing the Binance BTC/USDT Liquidation Heatmap reveals a significant amount of leverage, approximately $20 million, at the $36,700 mark. Furthermore, there is leverage extended down to $36,300. Consequently, if Bitcoin’s price were to decrease further, we could anticipate a subsequent escalation in price reduction and extensive wipeout of leverage. 
<figure id="attachment_376900" aria-describedby="caption-attachment-376900" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-376900 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/lll-1.png" alt="Bitcoin liquidation heatmap: (Source: Coinglass)" width="1097" height="528" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/lll-1.png 1097w, https://cryptoslate.com/wp-content/uploads/2023/11/lll-1-300x144.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/lll-1-1024x493.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/lll-1-768x370.png 768w" sizes="(max-width: 1097px) 100vw, 1097px">
 <figcaption id="caption-attachment-376900" class="wp-caption-text">
 Bitcoin liquidation heatmap: (Source: Coinglass)
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The post <a href="https://cryptoslate.com/insights/binance-carries-the-brunt-of-130m-crypto-market-liquidation-wave/">Binance carries the brunt of $130M crypto market liquidation wave</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Binance carries the brunt of $130M crypto market liquidation wave

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