The Bitcoin market experienced an unexpected wave of liquidations of short positions, resulting in total liquidations of over $2.47 million. This event occurred with minimal price changes, drawing interest from analysts.
Liquidations of Bitcoin Short Positions
In just one hour, short liquidations on Bitcoin surged to $2.47 million, leading to a significant imbalance with a ratio of 4,333%. This occurred while the price remained around $108,800.
Comparison of Long and Short Position Liquidations
In the last 24 hours, liquidations of long positions on Bitcoin amounted to $29 million compared to $9.4 million in shorts. This contrasts with the hourly dynamics and may indicate a reversal in trend.
Concluding Remarks
This situation confirms that even during calm periods in the market, sharp changes can occur. Traders were reminded that weak positions are susceptible to liquidation, even when charts appear stable.
The liquidations of Bitcoin short positions highlight the importance of closely monitoring market dynamics, as well as the risks associated with high leverage and borrowing. This event underscores that unexpected turns can always happen in the cryptocurrency market.
