Bitcoin (BTC) experienced significant turbulence over the past 24 hours, shedding approximately 5% of its value as global markets reacted poorly to renewed fears surrounding international trade wars and escalating geopolitical risks. This shift toward ‘risk-off’ sentiment saw investors quickly divest from speculative assets, placing heavy pressure on the cryptocurrency market. The rapid decline triggered a massive leveraged market correction, resulting in approximately $865 million in total liquidations across major derivatives exchanges. Data indicates that the overwhelming majority of the liquidated positions were ‘long’ traders—investors who had bet on continued price appreciation. The sharp, sudden nature of the sell-off caught high-leverage positions unprepared, leading to a cascading effect that accelerated the price decrease below crucial technical support levels. Analysts suggest that while such massive liquidations temporarily reset market overheatedness, the market’s high correlation with traditional macro indicators means Bitcoin will remain extremely vulnerable to further geopolitical announcements and shifts in global economic policy in the near term.
Source: Bitcoin Slips On Trade War Fears, Sparks $865M in Liquidations
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