OKX Liquidates $4.09 Million Bitcoin Long Following Earlier $8.6 Million Short Squeeze

Cryptocurrency exchange OKX forcefully closed a single Bitcoin long position worth $4.09 million at a price of $81,756 at 12:03 p.m. ET on October 19. The forced closure occurred as Bitcoin traded around the $81,000 to $82,000 range amid mounting derivatives market volatility. Earlier in the session at 3:34 a.m. ET, Bitcoin breached the $83,000 mark, triggering a separate single-transaction liquidation of an $8.6 million Bitcoin short position at an execution price of $83,118.