Over $190M in Bitcoin Liquidated on BitMEX Amid Crypto Market Sell-Off
The crypto markets were shaken Wednesday amid a flurry of selling that saw more than $190 million worth of longs and shorts liquidated on BitMEX.
The liquidator of the defunct cryptocurrency exchange has opened a portal so former users can begin making claims to retrieve their trapped funds.
Bitcoin's sudden price drop triggers a long squeeze across major exchanges.
The company told customers withdrawals from the platform have been disabled, and they will get further details Wednesday.
Only $133 million in futures were liquidated on BitMEX as bitcoin soared above $11,400.
Bitcoin volatility continues to drop as the price stays within a tight range and traders wait for a breakout in either direction.