Binance BTC Short Liquidation Valued at $2.24 Million; Liquidation Price $74,798

Binance’s BTC perpetual futures market recorded a single Bitcoin (BTC) short liquidation valued at $2.24 million at 10:02 a.m. ET on Nov. 10 (15:02 UTC), with a liquidation price of $74,798.

The event timestamp was 12:02 a.m. Korea time on Nov. 11, which converts to 10:02 a.m. ET on Nov. 10. The position was a short in Binance’s perpetual futures market, with a liquidation price of $74,798.

A short position is structured to benefit from a fall in an asset’s price. Liquidation is a forced close of a position. In this case, the reported figure is the value of the single liquidated position; $74,798 is its liquidation price, not the position’s value.

The event concerns one BTC perpetual futures position on Binance. The venue, contract type, event time, position value and liquidation price describe the reported liquidation.