Bitcoin has witnessed a dramatic shift in its daily liquidation as BTC’s recent price action puts bulls on the safer side.
Most specifically, Bitcoin has seen its total liquidations hit a massive $102.35 million in a matter of a few hours, with short liquidations totaling a massive $95.96 million, according to data from Coinglass.
During this massive liquidation event, only $6.38 million was seen coming from long positions, marking a notable difference—about 1,533% in favor of one of the parties.
With BTC short positions being suddenly wiped out at a rate 1,533% higher than long positions, this significant liquidation imbalance happening in favor of the Bitcoin bulls reflects strong confidence in Bitcoin’s future price action despite the persisting crypto market uncertainties.
Meanwhile, the data further revealed that just about half a million…
