#Bitcoin ’s recent flash crash😱😱😱, with a rapid drop from $103,500 to $90,500, caused a wave of liquidations in the cryptocurrency futures market, totaling nearly $700 million.
Data from CoinGlass reveals that 82% of these liquidations were long positions, equating to approximately $733 million. The quick rebound to around $98,000 highlights the volatility and risk in the market, particularly with the rise in Open Interest during Bitcoin’s price surge.
This "long squeeze" is a result of excessive leverage, making the market vulnerable to sharp corrections. Traders should stay cautious, monitor market conditions, and manage risk effectively, as sudden price reversals can trigger significant liquidations.
$BTC #bitcoincrashes #BTCRecoveredTo97K #BTCBreaking100KAgain? #SUIInTheSpotlight