Pro Traders Profit as Bitcoin Price Hits 2-Month Low

The Surprise: Bitcoin’s Price Drop Causes $900 Million in Liquidations

The recent drop in the price of Bitcoin took many traders by surprise. From August 16 to August 18, the price fell by 11.5%, resulting in $900 million worth of long positions being liquidated. This caused the price to hit a two-month low. Prior to the drop, many traders expected a breakout in volatility that would push the price upward, but that was obviously not the case. With the substantial liquidations, it’s important to address whether professional traders gained from the price crash.