$200M of Bitcoin long liquidations as BTC drops to $22k

Quick Take

• Over $200M of long liquidations were wiped out on March. 3, according to Coinglass.
• Over 90% of the liquidations were long.
• This was due to a build-up of Futures Open Interest which continued to increase as February was ongoing.
• Last week, CryptoSlate monitored the excessive build-up of Futures OI that exceeded 500k, which as a result, gave us the liquidations we were waiting for.

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