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Bitcoin really showed the bulls no mercy this time!
In just 15 minutes, SBTC suddenly took a nosedive, dropping as low as $73,510 and scaring many in the market into checking their account balances overnight. Even more dramatic, the price quickly rebounded afterward. The whole thing was like a crypto roller coaster—you’d barely buckle your seat belt before getting thrown out.
But what really hurts isn’t the price—it’s the liquidation data. In just one hour, around $745 million in positions across the market were liquidated, including about $715 million in long positions. In other words, the vast majority of those forced out were bullish traders.
It was a bit like a group of people excitedly rushing into an elevator, only for it to suddenly plummet, with just a few managing to grab the handrail.
The question is: Was this rapid sell-off triggered by excessive leverage causing mass liquidations, or is the market gearing up for a new round of correction?
The $73,000–$75,000 range is crucial now. If the price can hold steady, this may just be a sharp shakeout; if it continues to lose ground, the market may have another test ahead.
The cruelest thing about crypto is that when prices rise, people complain they’re rising too slowly; when they fall, people complain they’re falling too fast. $SPCX