$740M wiped out: Did Bitcoin just clear the leverage overhang?

Bitcoin (BTC) forced the closure of $740 million in leveraged positions on Oct. 21 as the price swung from $110,552 to $114,019 before retreating toward $108,000, executing a classic short-squeeze followed by long liquidations that cleared excessive derivatives exposure. Data from Coinglass shows $435.63 million in long positions and $304.64 million in shorts eliminated during The post $740M wiped out: Did Bitcoin just clear the leverage overhang? appeared first on CryptoSlate.