In recent days, Bitcoin (BTC) has experienced significant price fluctuations, leading to serious consequences for investors and traders.
Current Situation
According to data from the Coinglass platform, Bitcoin's price action is set to trigger major liquidation events on mainstream cryptocurrency exchanges (CEX). If BTC falls below $55,000, $765 million worth of long positions will be liquidated.
Liquidation Data
In contrast, $585 million worth of BTC short positions on CEXs will be liquidated if Bitcoin rises above $60,000. In the last 24 hours, $119.7 million worth of leveraged transactions were liquidated, including $71.7 million worth of long positions and $48 million worth of short positions.
Impact on Traders
Over the past 24 hours, 39,072 traders were liquidated. The largest liquidation occurred in the BTC/USDT transaction on the OKX exchange.
The sharp fluctuations in Bitcoin's value create significant risks for investors and traders, leading to massive position liquidations.
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