{"id":21381,"date":"2023-08-20T22:37:01","date_gmt":"2023-08-20T22:37:01","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-price-drops-to-a-two-month-low-did-pro-traders-benefit\/"},"modified":"2023-08-20T22:37:03","modified_gmt":"2023-08-20T22:37:03","slug":"bitcoin-price-drops-to-a-two-month-low-did-pro-traders-benefit","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-price-drops-to-a-two-month-low-did-pro-traders-benefit\/","title":{"rendered":"Bitcoin price drops to a two-month low \u2014 Did pro traders benefit?"},"content":{"rendered":"
The price of Bitcoin\u00a0fell by 11.5% from Aug. 16 to Aug. 18, resulting in $900 million worth of long positions being liquidated and causing the price to hit a two-month low. Before 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\u2019s important to address whether professional traders gained from the price crash.<\/p>\n
\nBitcoin just saw one of its largest daily liquidations by volume in history.<\/p>\n
Starting at 4:30 PM yesterday, #Bitcoin<\/a> fell 7.5% in 20 MINUTES, erasing $42 billion in market cap.<\/p>\n
This mass-liquidation event involved more outflows in 1 day than during the FTX collapse in November\u2026 pic.twitter.com\/KmVNkXoOLw<\/a><\/p>\n