Despite ending the previous session profitably, Bitcoin experienced over $280 million in liquidations, dominated by long positions.
Despite ending the previous trading session on a profitable note, it experienced significant liquidation volumes prompted by its price volatility.A deeper look into the data showed that long liquidations accounted for most of this volume, recording over $231.6 million. In contrast, short liquidations were significantly lower, around $60.8 million.
Further analysis indicated that this spike in long liquidations on the 1st of August was not an isolated incident; BTC had been experiencing a dominance of long liquidations in the days leading up to this event. This trend suggests that many traders were overly optimistic about BTC’s price movements. This led to a higher volume of long positions being liquidated when the market turned against them.The prevalence of long liquidations highlighted a period of bullish sentiment that was abruptly challenged, causing substantial financial repercussions for those holding leveraged long positions.
According to AMBCrypto’s analysis, Bitcoin began trading at approximately $64,609 but subsequently declined to around $62,212. This sharp drop triggered the substantial long liquidation volume observed.As of this writing, Bitcoin had declined by over 1% and was trading at around $64,254. If this trend continues, another day of long liquidation dominance is likely.indicated a decent trading volume.
Such a shift could alter the ongoing liquidation trend, potentially reducing the dominance of long liquidations and stabilizing the price movement.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold to $3,300, silver to $79, and Bitcoin to $105k by August 2025The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Is the Bitcoin Rainbow Chart showing large gains in August?The Bitcoin Rainbow chart projected a 2025 cycle top of nearly $200k for BTC, and the NUPL showed decreased sell pressure in recent months.
Read more »
Bitcoin August 1 daily chart alert - Price uptrend brokenThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Bitcoin, Ethereum posted mixed results in July – What does August promise?Bitcoin registered modest returns of 3% last month as Ether dropped over 5%. Here are triggers expected to influence price action this month.
Read more »
Kraken begins Bitcoin (BTC) & Bitcoin Cash (BCH) distribution to Mt Gox creditorsIn a much awaited move, Kraken - a leading crypto exchange - has reportedly started distributing Bitcoin (BTC) and Bitcoin Cash...
Read more »
July’s $280M token unlocks: Will AVAX, ARB, APT shake up the altcoin market?There are over $280 million worth of token unlocks pending, including ARB, APT, and AVAX. Will the supply derail altcoin performance?
Read more »