Julie Morgan
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At a meeting on Sunday, OPEC Plus agreed to keep its oil output unchanged for March.
Bitcoin briefly dipped below support before bouncing back above $75,000 in a V-shaped recovery.
According to data from Coinglass, over $850 million in bullish bets were wiped out in a matter of hours on Saturday when prices started to crumble.
eventually adding up to nearly $2.5 billion.
These liquidations occur when traders borrow money to bet that the price will rise.
Once the price hits a certain trapdoor, exchanges automatically sell their holdings to repay the debt.
This creates a domino effect.
Forced selling leads to lower prices, which trigger even more liquidations.
The report added across the board nearly 200,000 traders had their accounts blown out on Saturday.
Furthermore, crypto markets saw another wave of forced selling over the past 12 hours, with $510 million in leveraged positions wiped out.
CoinDesk reported that long trades comprised the bulk of losses at 391.6 million, while shorts accounted for 118.6 million.
Here's a look at a few other articles that are trending.
President Trump jokes about suing his new Fed nominee over rates.
Ford and Xiaomi deny a report that they're in talks for an EV partnership.
And according to Bloomberg, Disney is close to naming the head of its parks division as the next CEO.
A couple of items on our Catalyst watch for the day.
The CFO and chief commercial officer of Lululemon will start to share leadership roles as co-CEOs, while the company continues its search for a full-time replacement for Calvin McDonald.
And the National Automobile Dealers Association's annual four-day convention in Las Vegas begins.
The event brings together dealers, manufacturers, and technology vendors.