An OKX Bitcoin (BTC) perpetual futures long worth $3.54 million was liquidated at 7:36 p.m. ET Nov. 12, marking one derivatives position rather than a spot-market sale.
The event was recorded at 00:36 UTC Nov. 13, and $70,747 was listed as its liquidation price. The $3.54 million figure represents the stated value of the position. Perpetual futures are derivatives with no scheduled expiration date.
A long position gains value when the underlying asset rises and loses value when it falls. Liquidation closes a position that can no longer remain open, ending its exposure. The figures describe this individual OKX contract; they do not establish a broader liquidation total.
EconoTimes previously covered a separate OKX perpetual-futures closure involving Ether (ETH). That Nov. 10 Ether position was valued at $5.04 million and listed at $2,016, making it a different event from the Bitcoin liquidation.
