A sharp drop in Bitcoin's value could force liquidations totaling almost $2 billion, highlighting significant leveraged positions on the Gate.io exchange.

Bitcoin Liquidations on October 2023

Bitcoin liquidations occurred on October 10, 2023, totaling nearly $2 billion. A swift price decline from $121,000 to $102,000 initiated forced margin exits on various exchanges.

Exchange Activity

Gate.io facilitated the most significant portion of these liquidations. This highlights the exchange's role in the trading activity during the market event.