About $52 mln worth of shorts was burned in a snap on BitMEX, the derivatives exchange that remains the number one destination for risk-taking traders.
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The Twitter bot, which tracks BitMEX liquidations, posted one particularly bad trade that resulted in at least $77,037 being wiped out with 1:100 leverage.
Liquidated short on XBTUSD: Buy 7,703,689 @ 10501.5 ???????????????????????????????????????????????????????????????????????????????⚡ ~ BEYOND GODLIKE x22 ~ Check your inbox
— REKT (@BXRekt) August 26, 2019
The Bitcoin price suddenly spiked to $10,604, but it failed to keep up its momentum and retraced to the $10,300 level shortly after a huge green candle.
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