Bitcoin Market Sees Massive Liquidations as Bearish Momentum Drives $2.57B in Short Liquidations
The #Bitcoin Exchange Liquidation Map for the past week shows a stunning amount of liquidations in the cryptocurrency market. Long liquidations came in at an astounding $887.96 million, while short liquidations were even higher at an incredible $2.57 billion. This huge imbalance indicates that traders are predominantly placing bearish bets and that, if anything, the downtrend in the market is being intensified. https://twitter.com/CoinEdition/status/1905997878310351044?t=nS9pmo_QPLd-ssTiUBFtMA&s=19 The liquidations occur as Bitcoin and the larger cryptocurrency market keep having a downturn that seems never-ending, which is causing traders who are on the wrong side of the market a whole lot of grief. Long traders have suffered some relatively huge liquidations, but it's the short traders who have taken the biggest hits. And here's where it gets juicy: the liquidation charts for short traders, which are reaching record levels, suggest that even the traders who […]