Derivatives market bloodbath: $573 million liquidated
The price collapse triggered a flurry of liquidations on trading platforms. Within 24 hours, the market saw over $573 million in liquidated positions, the vast majority of which were long positions (buyers betting on the upside).
This long squeeze accelerated the decline, forcing algorithms and traders to sell into the market to cover losses. Volatility has peaked, and Bitcoin is currently testing critical support levels. If selling pressure continues and the S&P 500 (particularly tech stocks like Nvidia) confirms this downward trend at the US open, BTC could once again surpass the $60,000-$70,000 level.$BTC #DecemberMarketOutlook #DecemberRateCutForecast #AreYouBullishOrBearishToday? #SpotETFApprovalUpdates #CryptoMarketWatch
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Derivatives market bloodbath: $573 million liquidated
The price collapse triggered a flurry of liquidations on trading platforms. Within 24 hours, the market saw over $573 million in liquidated positions, the vast majority of which were long positions (buyers betting on the upside).
This long squeeze accelerated the decline, forcing algorithms and traders to sell into the market to cover losses. Volatility has peaked, and Bitcoin is currently testing critical support levels. If selling pressure continues and the S&P 500 (particularly tech stocks like Nvidia) confirms this downward trend at the US open, BTC could once again surpass the $60,000-$70,000 level.$BTC #DecemberMarketOutlook #DecemberRateCutForecast #AreYouBullishOrBearishToday? #SpotETFApprovalUpdates #CryptoMarketWatch