Bitcoin Long Positions Face 'Turbulent' Times... $940 Million in Liquidations

# Major Liquidations Occur as Bitcoin Price Volatility Intensifies Amidst heightened volatility in Bitcoin (BTC) prices, the futures market has experienced significant liquidations. Over the past 24 hours, cryptocurrency perpetual futures markets saw a total liquidation of positions valued at $939.98 million, with the vast majority being long (buy) positions, according to CoinGlass, a leading cryptocurrency market data platform. This includes $315.55 million in Bitcoin positions, $246.01 million in Ethereum (ETH) positions, and an additional $967 million in other altcoin positions that were forcibly liquidated. Notably, long positions dominated the liquidation activity, accounting for $741.52 million, which represents 78% of the total liquidation amount. In comparison, the liquidation of short (sell) positions amounted to $198.46 million, a relatively smaller figure. Breaking down the liquidation over time, $7.16 million occurred within one hour, $232.13 million within four hours, and $639.62 million within twelve hours. This suggests that cryptocurrency volatility peaked during the early hours of the New York Stock Exchange. On this day, the number of traders affected by these liquidations reached 332,458. The largest single liquidation event was recorded in the Bybit BTCUSD market, amounting to $5.26 million. Market experts have noted, "The substantial liquidations of leveraged long positions appear to coincide with Bitcoin’s rapid price fluctuations around the $80,000 mark." They further analyzed that “the reduction in open interest (OI) might indicate an ongoing unwinding of leveraged positions in risk assets.”