Bitcoin Derivatives Market Sees Massive Liquidations, Driven by Strategy Buy

The Bitcoin derivatives market has experienced a dramatic shake-up today, with liquidations heavily skewed towards longs, exceeding even the notoriously volatile nature of the cryptocurrency space. Just in the past hour, nearly $13.5 million worth of leveraged Bitcoin positions were liquidated, with almost all losses attributed to long-position holders as per CoinGlass data. This created a staggering 17,300% liquidations imbalance between longs and shorts.