The crypto market suddenly turned red on March 10 in the year’s worst sell-off. Bitcoin slipped below $ 20,000 for the first time in three months, and the market sentiments are bearish. The aftermath of the crash has leveraged traders reeling with millions of dollars in active trading positions liquidated during this period.
Derivative Traders Suffer Huge Losses
According to data from CoinGlass, derivative traders have lost about $ 202 million in the past 24 hours. Leveraged trading or futures market is when traders speculate using derivatives or loans from the exchange.