CryptoQuant: Bitcoin faces volatility, over $100 million liquidated

CryptoWorld News reports that Bitcoin (BTC) is once again in a volatile phase. As the overall market slows down, more than $100 million in leveraged long positions are liquidated, which intensifies BTC price fluctuations. CryptoQuant analyst Xwin Japan noted that the price drop in late April was more likely due to liquidity issues rather than a fundamental change in demand. The analyst said that spot buyers or sellers did not drive the volatility; it was mainly caused by forced liquidations of heavily leveraged long positions. Within an hour, the BTC price fell from $78,000 to below $77,000. It is currently trading at $76,583, down 1.66% over the day. Although the weekly decline is 0.26%, it has risen by about 16% over the past month. The analyst also mentioned that the market structure was weaker over the weekend, leading to lower trading activity, thinner order books, and making prices more sensitive to market orders.

BTC-0.75%
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