The fall of bitcoin liquidated USD 1,000 million of leveraged traders

Source: Criptonoticias Original Title: The fall of bitcoin liquidated USD 1 billion of leveraged traders Original Link:

• Bullish traders took a hard hit with the abrupt drop of bitcoin.
• The impact was felt throughout the cryptocurrency market.

The price of bitcoin (BTC) experienced a significant drop in its quotation, from 87,000 dollars to a low of 82,000 dollars in the last 24 hours.

This movement represents a 5% drop in the mentioned period and a 17% drop in the last seven days, generating a strong impact on the digital asset derivatives market.

The decline in the price of bitcoin triggered liquidations totaling 1 billion dollars in the derivatives market, affecting numerous traders with leveraged positions in BTC and cryptocurrencies.

Long positions ( green ) were the most affected.

Long positions, that is, those betting on a price increase, were the most affected by this wave of liquidations.

The liquidation process is triggered when the price of a financial asset moves drastically against the open position, which leads exchanges to automatically close these leveraged traders' operations to avoid negative balances, a mechanism that intensifies selling pressure in the market and deepens the initial decline.

With the drop, market attention now focuses on Bitcoin's ability to defend key technical levels.

The $80,000 zone is set up as a possible immediate support for the BTC price. However, if this threshold is not maintained, the next relevant support level is located at $75,000, where the market could seek consolidation before defining its next direction.