<p class="graf graf--p">Bitcoin and Ethereum crashed by 12% and 20% respectively in about 6 minutes as more than $1 billion of positions were liquidated.</p> <p class="graf graf--p">Bitcoin’s price went from $11,930 to $10,550. By press time, the price has now recovered to about $11,400.</p> <figure class="graf graf--figure"><img class="graf-image" src="https://cdn-images-1.medium.com/max/1600/1*1YHZ-AMw1S-hbo_lEl6y5A.png" data-image-id="1*1YHZ-AMw1S-hbo_lEl6y5A.png" data-width="2196" data-height="1452" /></figure> <p class="graf graf--p">Ethereum crashed from $408 to $326. By press time, the price has now recovered to about $380.</p> <figure class="graf graf--figure"><img class="graf-image" src="https://cdn-images-1.medium.com/max/1600/1*MNa88fmCHHyznQv1AUoD1A.png" data-image-id="1*MNa88fmCHHyznQv1AUoD1A.png" data-width="2194" data-height="1454" /></figure> <h3>Liquidations</h3> <p>About $1.1 billion worth of futures positions of more than 70,000 traders were liquidated across all exchanges, according to market data site Bybt. Nearly $400 million was liquidated on each OKEx and Huobi; followed by BitMEX ($164M) and Binance ($86M).</p> <p><img src="https://i.imgur.com/aXZUMpw.png" /></p> <p>The largest single liquidation order worth $10 million happened on BitMEX's Bitcoin perpetual swap. Most of the liquidations, about $647 million, came from Bitcoin's futures, followed by Ethereum with $165 million of liquidations.</p> <p><img src="https://i.imgur.com/jKNRiDM.png" /></p>