Bitcoin Faces Significant Long Liquidations Amid Whale Activity and Market Volatility

Key Points

1. A previously inactive whale wallet moved over 80,000 BTC, with 16,843 BTC traced to institutional desks, triggering a market drop below $117,000.

2. Over $2.78 million in long positions were liquidated in one hour, with longs accounting for $2.75 million compared to $32,000 in shorts, reflecting an 8,593% imbalance.

3. Investors realized $3.5 billion in profits, with long-term holders accounting for $1.96 billion and short-term holders contributing $1.54 billion, intensifying selling pressure.

4. Total liquidations exceeded $460 million in 24 hours, with Bitcoin alone accounting for $141 million in long liquidations.

5. Bitcoin's price dropped 4% to around $116,700, highlighting the vulnerability of leveraged traders during rapid market shifts.