U.Today – The (BTC) market has seen a lot of liquidations recently, and bullish traders have been the most affected. CoinGlass says that over $3 million in long positions were liquidated in just one hour, while short liquidations totaled only $51,000. This massive imbalance of 7,023% shows that the market is bearish.
Bitcoin price fell 0.6% over the same period, contributing to the sell-off. This drop comes on the heels of a 3.7% drop since the start of the week, adding to the pain for bullish traders.
As is often the case, those who were late to the game or failed to manage their risk effectively ended up paying a high price. The large sell-offs make us wonder if the market is simply undergoing a normal correction or if this is the end of Bitcoin's recent rally.
One thing is certain: despite the recent volatility, Bitcoin remains a very important asset for investors and traders. Financial markets continue to pay attention to this cryptocurrency, so it is likely to remain a volatile asset.
There are opportunities and risks for those willing to participate. While some may be less than thrilled with the recent sell-offs, others may see this as an opportunity to buy Bitcoin at a potentially discounted price.
It is important to note that leveraged trading carries significant risks, so traders should exercise caution and consider their risk tolerance before entering such positions.
This article was originally published on U.Today
