Bitcoin (BTC) Rockets 8,593% in Abnormal Liquidation Imbalance in Hourly Bloodbath

Key Points

1. Over $2.78 million in BTC long positions were liquidated in one hour, with $2.75 million in longs versus $32,000 in shorts, a 8,593% difference.

2. Bitcoin dropped below $117,000 in a sudden move, breaking a sideways range it had been holding near $123,000.

3. In the last 24 hours, Bitcoin investors realized $3.5 billion in profits, with long-term holders accounting for $1.96 billion and short-term holders $1.54 billion.

4. The crypto market saw over $460 million in liquidations in 24 hours, with BTC, ETH, and XRP leading, and Bitcoin alone accounting for $141 million in long liquidations.

5. Bitcoin is currently trading around $116,700, down over 4% from previous levels.