Recently, Bitcoin crossed significant price levels several times, leading to major liquidation events on mainstream cryptocurrency exchanges.
Bitcoin price fluctuations
Bitcoin recently came close to $100,000, but then dropped to $90,000. It later recovered to $95,000, leaving investors questioning its future direction.
Liquidation events on exchanges
According to Coinglass, Bitcoin's price may trigger major liquidation events on mainstream exchanges. If BTC's price falls below $94,000, $1.05 billion of long positions will be liquidated. Conversely, if the price rises above $97,000, $811 million in short positions will also be liquidated.
Data analysis and implications
Current data shows that in the last 24 hours, $280 million have been liquidated, including $113.4 million in longs and $167.3 million in shorts. A total of 98,394 traders were liquidated, with the largest occurring in the ETH/USD pair on BitMEX.
Bitcoin's volatile behavior continues to make markets dynamic, posing significant financial implications for investors and traders.
