Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
MICA Daily | Investors start to take profit, BTC falls below $93,000
Investors have started to take profits in the Cryptocurrency market, causing the BTC price to fail to break through the $100,000 mark successfully. It fell from yesterday all the way to $93,000. On the other hand, in the past 24 hours, the total liquidation amount of long positions in the Cryptocurrency market reached $337.6 million due to the forced closing of long positions, leading to stronger selling pressure, mainly from Cryptocurrency exchanges that offer high leverage Futures Trading.
The analysis pointed out that in addition to the liquidation of leveraged positions, long-term investors have also become another major source of selling pressure. According to Glassnode data, investors holding BTC for 6 to 12 months are selling a large amount of BTC. Due to the rapid price increase, their average cost is only 71% of the market price (about $57,900). These investors seized the surge of BTC from $74,000 to $99,000 and successfully took profits.
Currently, there is a reversal in the buying and selling power in the market, shifting from a short-term bullish trend to an increase in short positions sentiment. Along with the increase in liquidation, there is a significant increase in short positions in the market, and the borrowing interest rate has climbed from 0.019 to a high of 0.04, indicating a very active trading activity. We are still observing when this pullback will end, but it can be anticipated that the market will need a rest period after overheating.
Disclaimer: The article only represents the author’s personal views and opinions, not the objective views and positions of Block. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Block will not be responsible for any direct or indirect losses resulting from the investor’s transactions.
<MICA Daily｜Investors start to take profits, BTC falls below $93,000> This article was first published in Blockchained.