Editor's PiCK
Bitcoin Plummets to $90,500 Intraday... Massive Long Position Liquidation
Doohyun Hwang
Summary
- Bitcoin reportedly fell to $90,500 intraday due to a sharp decline.
- According to CoinGlass data, a large number of long positions were liquidated in the Bitcoin futures market.
- A significant portion of the liquidation amount in the futures market was long positions, with the liquidation amount being about $323 million.
Bitcoin (BTC), which surpassed the $100,000 mark, experienced a sharp decline, touching the $90,000 range intraday.
On the 5th (local time), Bitcoin, which had risen to $14,088 on the Binance Tether (USDT) market, sharply declined afterward, touching $90,500 intraday. As of 9:12 AM (Korean time) on the same day, Bitcoin recovered some of its losses, bringing the price back to the $96,000 range.
Along with this, a massive liquidation of long positions occurred. According to CoinGlass data today, most of the liquidation amount (about $363 million) in the Bitcoin futures market over the past four hours was from long positions (about $323 million).
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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