Bitcoin Liquidations Don Hit $300M As Price Drop To $97K
Bitcoin liquidations don reach over $300 million within one hour as price drop from near $99,000 to $97,000, after earlier liquidation of $117 million when e fall below $100,000. For last 24 hours, forced sell-offs for major futures exchanges clear 235,644 leveraged long positions, total about $1 billion. The biggest single liquidation happen for HTX BTC-USDT market pass $44 million. This rise for Bitcoin liquidations show how market dey very volatile and the risk of too much leverage. Traders suppose dey watch margin requirements and funding rates well well to manage possible liquidation risks anytime sudden price reversals happen.
Bearish
Di big $300 million long forced liquidations plus over $1 billion we don wiped out inside 24 hours show serious selling pressure on top Bitcoin, wey dey push price down to $97,000. For short term, dis big jump for Bitcoin liquidation be bearish, as forced sell-offs dey make downtrend worse. But if e clear overleveraged positions, e fit reduce some downside risk for long term if market calm down and funding rates normalize. Traders suppose dey cautious about leverage levels, because fast price swings still dey carry liquidation risk.