Binance recorded an $11.96 million Bitcoin (BTC) short liquidation on Oct. 20, a single perpetual futures position larger than another short entry on the exchange four days earlier.
The Oct. 20 position had a recorded liquidation price of $83,276. Its $11.96 million value applies to that position alone, rather than to all Bitcoin liquidations on Binance or across the market.
Short sellers benefit if the asset’s price declines. Liquidation forces a position closed. Perpetual futures contracts have no fixed expiration date, and the Binance entry identified the closed position as a short in Bitcoin.
The event follows a separate Binance Bitcoin short liquidation on Oct. 16. That position was valued at $6.16 million and had a listed liquidation price of $82,845. Neither figure is a marketwide total.
