U.Today – The (BTC) market has been experiencing a lot of liquidations lately, with bullish investors being the hardest hit. CoinGlass claims that over $3 million in long positions were liquidated in just one hour, while miniature liquidations totaled just $51,000. This massive imbalance of 7,023% shows that the market is bearish.
Bitcoin’s price fell 0.6% in the same period, fueling a wave of selling. The decline follows a 3.7% decline since the start of the week, making life even more challenging for bullish investors.
As is often the case, those who got in tardy or didn’t manage their risk effectively ended up paying a massive price. The major liquidations leave us wondering if the market is simply making a normal correction or if this is the end of Bitcoin’s recent rally.
One thing is for sure: despite recent volatility, Bitcoin is still a huge deal for investors and traders. As financial markets continue to pay attention to the cryptocurrency, it will likely remain a volatile asset.
There are opportunities and risks for those who want to participate. While some may be less excited about the recent liquidations, others may see this as a chance to buy Bitcoin at a potentially discounted price.
Please note that leveraged trading carries significant risk, so investors should exercise caution and consider their risk tolerance before entering into these types of positions.
