news.u.today
As reported by U.Today, the Bitcoin (BTC) price nosedived to the $9,700 level on Sept. 19, and the bulls inevitably felt the bite.
The sudden price drop triggered a string of longs being liquidated on BitMEX, the leading cryptocurrency derivatives exchange.
150m in long liqs just on bmex alone pic.twitter.com/B0PbDDLHfM
— Josh Olszewicz (@CarpeNoctom) September 19, 2019
According to a Twitter bot that announces BitMEX liquidations, there were a couple of traders who lost at least $100,000 after a single price move.
Liquidated long on XBTUSD: Sell 10,000,000 @ 9760 🏅🏆💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯 ~ hide your kids, hide your wife, cause they’re liquidatin’ everybody out here
— REKT (@BXRekt) September 19, 2019
Notably, this collective liquidation nightmare came just one day after BitMEX CEO Arthur Hayes voiced his bold $20,000 Bitcoin price prediction, which came on the heels of the U.S. Federal Reserve pumped in $53 bln of extra cash.