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Hundreds of Thousands of Traders Lose Rp18 Trillion Amid Escalation of Middle East Conflict
The crypto market has once again experienced a liquidation of US$1.1 billion or the equivalent of Rp18.3 trillion, after Bitcoin (BTC) fell to the level of US$103 thousand, on Friday (13/06). This occurred amid the escalation of conflict due to Israel's attack on the Natanz Nuclear Facility in Tehran, Iran.
Interestingly, the losses were predominantly borne by traders taking long positions, primarily in Bitcoin, with total losses reaching US$455 million. Meanwhile, in Ethereum (ETH), the amount liquidated was at US$268 million.
Overall, this liquidation was experienced by around 247,063 traders. Long trader positions were recorded liquidated at US$1.05 billion, while short traders only at US$82 million.
The exchange that contributed the largest liquidation is the Cex made by CZ with US$457 million. Next, the Cex made by Ben Zhou with US$371 million, followed by the Cex made by Star Xu with US$125 million.