$600 million in leveraged positions liquidated as Bitcoin price crashes 5%

Data from Bybt shows that $598,193,833 worth of leveraged positions have been liquidated over the past hour after Bitcoin took a sudden 5% nosedive. The largest single liquidation order happened on Seychelles-based cryptocurrency exchange Huobi, at a value $14,680,000. 

On-chain analyst Plan B maintains that the recent downswing was needed for Bitcoin to now march towards $60,000 or higher. 

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