Binance liquidates $2.56 million Bitcoin short position in one trade

Binance executed a major liquidation of a $2.56 million Bitcoin (BTC) short position in a single trade on October 4. The liquidation occurred at 6:16 p.m. ET (22:16 UTC) on the platform’s perpetual futures market, with the position’s liquidation price set at $86,567.

The data, collected by TokenPost from Binance’s public liquidation records, confirms that this was a single short position rather than multiple liquidations. A short position profits if the asset’s price declines, and liquidation happens when the trade reaches a predetermined threshold.

The reported liquidation amount and price provide insight into the scale of the trade, but the specific reasons behind the liquidation remain unclear. Binance’s records do not specify what triggered the event.