Bitcoin’s sharp price decline has led to $256 million in long positions liquidated. Analysts claim it is a “normal drop” that will convince you “the bull market is over.”
Traders anticipate further downside, with approximately $1.05 billion in short positions at risk if Bitcoin returns to its price from the previous day.) price decline of over 7% within the last 24 hours has resulted in $256 million losses for traders with long positions.“So far, this is a normal drop. In fact, we’ve had several 20-22% drops this cycle,” Benjamin Cowan stated in an April 13
The sudden price plunge led to a total of $319.15 million in liquidations from leveraged positions in Bitcoin over the past 24 hours.Traders seem to be bracing for further downside. If Bitcoin's price were to revert to its price level of $67,000 just 24 hours ago, short positions totaling $1.05 billion would face liquidation.
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