A Long Trader Lost Rp158 Billion After Bitcoin Fell to US$112 Thousand

A trader suffered significant losses after his long position was liquidated for US$9.7 million when the price of Bitcoin (BTC) plummeted to US$112,500 on Wednesday (20/08) morning. Records show that this single largest liquidation occurred on the exchange created by CZ on the BTCUSDT pair.
As information, this means that the largest digital asset in the world has dropped 8.9% from its recent peak of around US$124 thousand reached exactly a week ago on Thursday (.
On the other hand, the same losses were also incurred by more than 150 thousand other traders. In fact, the total value reached around US$537 million, a significant figure when considered from daily liquidation, as reported by Coinglass.
From that amount, long positions dominate with total losses reaching US$463.51 million, while short positions are only around US$73.59 million. This figure actually shows that many investors are too optimistic about the rise in Bitcoin prices, but the market is showing a reverse situation.
Furthermore, the most affected asset is Ethereum with US$200.57 million, followed by Bitcoin at US$116.56 million, as well as other crypto assets totaling US$56.43 million. This situation reaffirms the high risks in leveraged crypto trading.