Recent events in the Bitcoin market have significantly affected liquidity and trader positions, including a record liquidation imbalance.
Liquidation Imbalance in the Bitcoin Market
On Tuesday, a liquidation imbalance of 201,435% was recorded in the Bitcoin derivatives market, according to CoinGlass. This record coincided with news that Michael Saylor's company purchased 4,048 BTC for $449 million.
Impact of News on Selling
Despite the increased purchases by Saylor, the price of Bitcoin fell below $109,000. In the hour following the announcement, $4.21 million worth of long positions were liquidated, while short positions accounted for only $2,090, indicating a significant imbalance.
Exchange Situations and Saylor's Positions
Binance recorded the largest liquidation of the day, with an ETH/USDT position worth nearly $9.8 million. Over a 24-hour period, more than $393.9 million in leveraged positions were liquidated, with long contracts taking a bigger hit at $292 million versus $101.8 million in shorts. Saylor's company now holds 636,505 BTC, valued at $46.95 billion.
The situation in the Bitcoin market highlights that price movements may be driven more by derivative positions than by corporate purchases.
