Bitcoin Price Plunge Triggers Largest Long Position Liquidation In Months

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In a bearish development for Bitcoin and the cryptocurrency market, the recent price decline of BTC has triggered a massive long-position liquidation. This negative incident which has caused a broader pessimism in the entire market emphasizes the dangers of leveraged trading and the intrinsic volatility of the cryptocurrency market.
Bitcoin’s Largest Long Position Liquidation In 2024
The recent drop in Bitcoin’s price appears to be a significant one as the decline has led to substantial losses of long position liquidation cited by recent data. Leveraged traders saw their positions completely drained as a result of the drop in the price of BTC, setting off a series of forced liquidations.
All-round trader and expert, Yonsei Dent shared the development in his recent research on the leading on-chain analytics platform, CryptoQuant. According to the expert, the huge liquidation witnessed on Monday marks the largest since the beginning of 2024.
Yonsei noted that traders saw

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