<p>Bitcoin prices fell from $8,000 to as low as $7,450 this morning — a downswing of more than 7%. According to data from <a href="https://app.rek.to/">Rekto</a>, over the past hour, derivatives exchange BitMEX saw over $205 million worth of XBT Perpetual Swap contracts liquidated. That is to say, a large number of bitcoin levered positions have been automatically <a href="https://www.bitmex.com/app/liquidation">closed</a> by BitMEX's system. The low represents a new bottom over the past five months. The price has since settled slightly above $7,500 at the time of this writing.</p> <figure class="graf graf--figure"><img class="graf-image" src="https://cdn-images-1.medium.com/max/1600/1*TiULndqFLrDHENUOn8qrHg.png" data-image-id="1*TiULndqFLrDHENUOn8qrHg.png" data-width="1080" data-height="688" /></figure> <p style="text-align: center;"><span style="font-size: 8pt;">BTC/USD Price, Source: TradingView</span></p> <figure class="graf graf--figure"><img class="graf-image" src="https://cdn-images-1.medium.com/max/1600/1*znYdlU7ZSWvPfwwu8BkUzg.png" data-image-id="1*znYdlU7ZSWvPfwwu8BkUzg.png" data-width="1450" data-height="894" /></figure> <p style="text-align: center;"><span style="font-size: 8pt;">BitMEX Liquidations, Source: BitMEX</span></p>