Data from CoinGlass reveals a massive collapse in the cryptocurrency market, with $1.4 billion in liquidations within 24 hours, marking the fourth-largest flush in the last 90 days. More than 311,000 traders were forced out of their positions, with long traders being the most affected, accounting for $1.24 billion in losses after Bitcoin dropped below key support levels.
This event, driven by a “long squeeze,” pushed Bitcoin, Ethereum, and Solana into bear market territory after they lost fundamental technical levels. Selling pressure intensified drastically over the last 12 hours, with nearly $1 billion in forced liquidations occurring during that window, underscoring the extreme fragility of the current price structure in the face of macroeconomic volatility.
In the coming days, analysts warn that Bitcoin could replicate previous collapse patterns and seek levels near $50,000 if it fails to achieve an immediate recovery. Investors should closely monitor the resilience of these support zones, as a failed bounce would validate a prolonged bearish scenario for the remainder of the quarter.
Source:https://www.coinglass.com/liquidations
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