How to Short Bitcoin in the Crash: Step by Step on Bitget and OKX

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Bitcoin fell below $79,000 after the Binance hack. If you want to bet on falling prices or hedge, a short does exactly that. How it works on Bitget and, for EU readers, on OKX Europe, a worked example at tonight's price and the risks of shorting after a crash.To short Bitcoin means to bet on a falling price. After a Binance hot wallet was drained of about $2.8 billion on Thursday night and Bitcoin slipped below $79,000, many traders are asking whether they can profit from the drop or hedge their holdings. They can. The most direct way for most readers outside the EU is a perpetual futures contract on Bitget, where you open a short position in a few clicks. In the EU, OKX Europe offers regulated futures with up to 10x leverage. Here is how a short works, a worked example at tonight's price and why shorting right after a crash is riskier than it looks. What happened tonight is in our crypto crash timeline, the details of the drained wallet in our Binance hack report. What does it ...