Editor's PiCK
"Bitcoin, Largest Long Position Liquidation in 1.5 Years... $150 Million Scale"
Son Min
Summary
- Bitcoin's long position was liquidated at a scale of $150 million, resulting in a 10% plunge.
- "Bitcoin open interest" increased by 15%, indicating a market instability factor.
- Warned that "rises based on leverage are risky," cautioning against market greed tendencies.
A significant long position liquidation in Bitcoin (BTC) has occurred, marking the largest in a year and a half.
On the 5th (local time), Matyun, a CryptoQuant virtual asset analyst, stated on X, "The largest long position in a year and a half has been liquidated," adding, "Over $150 million in long positions were liquidated, resulting in a 10% plunge."
He noted, "Binance's Bitcoin Net Taker Volume suggested a price slowdown, and the 30-day moving average of retail investor demand reached 30%, the highest level in four years," adding, "Bitcoin open interest also increased by 15%." He further assessed, "Rises based on leverage are quite risky," attributing it to "the market being in a state of extreme greed."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
