Bitcoin Long Positions Wipe Out Over $106 Million: Market Volatility Spikes

A shocking $106 million worth of long Bitcoin positions were liquidated in a rapid four-hour selloff, marking a significant turn in market volatility. Traders caught off guard by sudden price drops triggered margin calls and forced the closure of these positions, leading to a sharp decline. Experts attribute this event to the interplay of factors including price resistance, low trading volumes, and potential market manipulation.