190,000 Liquidated Traders When BTC Reaches 100,000 USD

In the past 24 hours, the crypto market has experienced significant volatility as Bitcoin (BTC) officially surpassed the $100,000 mark. This price volatility has caused a large liquidation, totaling nearly $1 billion across the market and leading to a change in trader behavior. In addition, data from the Bitcoin futures market is heating up. Analysts are currently concerned about the possibility of an even larger wave of liquidation. Liquidation of Long Positions Soars as Bitcoin Breaks 100,000 USD According to data from CoinGlass, approximately 190,000 traders have been liquidated, with total losses reaching 970 million dollars. Short positions have been the hardest hit, accounting for 836 million dollars in losses. This event marks the largest short liquidation since 2021. CoinGlass also notes that the actual figures may be even higher.

"This is the largest short-selling liquidation since 2021... Binance has not fully disclosed its liquidation data and the actual data is much more than that," CoinGlass stated. Although short positions have been eliminated, the market still faces new risks: a strong increase in long positions. The 24-hour Bitcoin liquidation map from CoinGlass shows that if Bitcoin drops below $100,000, the total long positions on exchanges could face nearly $2 billion in liquidation. This raises concerns about the possibility of a "long squeeze" - a phenomenon where mass liquidation of long positions leads to panic selling and accelerates the price decline.

The similar map also shows that if Bitcoin drops below $98,000, the total liquidation volume could reach $3.45 billion. This overwhelming liquidation potential from long positions signals a shift in trader sentiment. Many are betting more money and using higher leverage, expecting the price of Bitcoin to continue rising. Additionally, data from CoinGlass shows that the open interest (OI) of Bitcoin futures contracts on exchanges has reached a record level of $67.4 billion. This reflects a surge in demand for short-term leveraged trading. Traders are making large bets on the bullish trend, which increases the risk if the market suddenly reverses.

According to history, whenever Bitcoin's OI exceeds 65 billion dollars, the crypto market will adjust immediately after. Bitcoin is currently becoming a headline not only for surpassing $100,000 but also for its increasing influence in global finance. At one point, Bitcoin even surpassed Amazon to become the fifth largest asset in the world, with a market capitalization of $2.05 trillion. Meanwhile, Standard Chartered predicts that Bitcoin could soon break its all-time high and reach $120,000 by Q2.