#Binance liquidates over $200 million#

Recently, there has been a large-scale margin call event on the Binance platform. According to statistics, the total margin call amount across the entire network in the past 24 hours reached $218 million, with the margin call amount for short positions reaching $142 million. In the past hour alone, the total margin call amount across the entire network reached $14.5 million, with the margin call amount for short positions reaching $13.39 million. This margin call event was mainly concentrated on the BTC contract. In the past 24 hours, the BTC margin call amount was $52.62 million, accounting for 24.06% of the total margin call amount, while in the past hour, the BTC margin call amount was $6.68 million, accounting for 46.08% of the total margin call amount. Analysts believe that the main reason for this margin call event is the inconsistency in market expectations for the price trend of BTC, leading to a large number of short positions being forcibly liquidated. As the price of BTC has been rising steadily recently, short positions have been continuously compressed, and eventually, when the price broke through the key resistance level, a large number of short positions were triggered to stop losses, leading to margin calls. This event also reminds investors that when engaging in contract trading, they should carefully control risks, set stop losses reasonably, and avoid major losses.