Bitcoin Liquidation Crisis: $1.14 Billion Wipeout as Leverage Unwinds

Over the past 24 hours, Bitcoin experienced a dramatic price drop and subsequent wave of liquidations. CoinGlass data reveals a staggering 1,446% imbalance between long and short positions, resulting in over $1.1 billion in total losses for Bitcoin alone. This massive liquidation occurred as prices plummeted below $103,000, triggering forced selling across derivatives markets.