A significant short position in Bitcoin (BTC) was closed out on Binance's perpetual futures market. The position, valued at $2.94 million, was liquidated when the price reached $83,828 at 1:23 a.m. ET on September 29.
This event marks one of the largest forced closures in this market. It indicates that traders who had bet against Bitcoin's price were unable to sustain their positions as the price rose.
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