Bitcoin futures position worth $4.9 Million margin called on OKCoin, trader loses $250,000-500,000
There was a monster selloff in bitcoin today, and the traders on OKCoin at 10x, 20x are feeling the volatility.
The drop was pretty steep. The market was trading at $490 on quarterlies while spot was about $468. The drop was all the way down to $455, a 7% fall and plenty to margin call traders who were anywhere from 10-20x leveraged long.
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