Bitcoin Price Drops 2%, Over $450 Million in Leverage Wipes Out

Bitcoin’s price has declined by around 2% in the past hour, bringing its market capitalization down to $2.37 trillion. According to CoinGlass, over $452 million worth of leveraged positions were liquidated within an hour, primarily affecting long traders who were heavily invested in a bullish outlook. This massive liquidation, totaling $426 million from long positions, contrasts with the relatively modest losses for short positions, which amounted to only $25 million. 💰 📉 📚