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Drop in Bitcoin Price: Long Squeeze and Impact of Global Markets
Bitcoin price has fallen by over 3% in the last 24 hours. This is stated as the main reason for the decline (long position squeeze).
Such squeezes cause more selling pressure, especially in futures markets where leveraged positions are concentrated, along with the decline in asset prices.
Long position squeeze (Long) usually occurs when investors in long positions close their positions as a result of falling prices and encountering stop loss orders or margin demands. This increases the selling pressure on the market and leads to further price declines.
Market Data and Liquidations
Within 24 hours, 64,838 investors were liquidated in the Bitcoin futures market. A total of $181 million worth of positions were closed, of which $49 million belonged to Bitcoin. A large portion of these long positions originate from leveraged transactions.
Open positions in the futures market have reached a total level of 19.1 billion dollars, and this level is an indicator that the market is overheating, according to analysts. Since March 2024, open interest has exceeded 18 billion six times, resulting in a price drop each time. Analysts warn that this situation could happen again.

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