BTC Long Positions Worth $500 Million Liquidated, Highest Since April

IconCryptoNewsTerminal Staff04 Jul, 2024

cryptonews.jpg

BTC Long Positions Worth $500 Million Liquidated, Highest Since April

$500 million in Bitcoin (BTC) long positions were liquidated in the last 24 hours, the highest since mid-April. This is according to data from Coinglass, which was cited by Decrypt. The price of BTC dropped to its lowest level since February, sparking the mass liquidations. During the same period, $80 million worth of short positions were also liquidated. The high number of liquidations suggests that many investors were caught off guard by the sudden drop in BTC's price. This could be a sign that the market is becoming increasingly volatile, and investors should be prepared for further turbulence in the future.

Related News