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Abnormal 638% Liquidation Imbalance Stuns Bitcoin Bulls
In the past hour alone, a staggering $26.1 million in positions have been closed, with the majority coming from longs. This alarming trend has continued over the last four hours, with a total of $68.7 million liquidated. The 24-hour total now stands at a massive $465.5 million, affecting 134,811 traders as reported by CoinGlass.
The scale of this liquidation is evident in the largest single transaction, which saw a massive $3.33 million BTC/USDT position on Bybit being closed. This staggering figure serves as a stark reminder of the immense risk that is currently being taken on the market.
Despite the inflation report from the U.S. having only a minor impact, with CPI falling 0.1% in March, traders are already bracing for a potential recession if trade tensions escalate further.
The data suggests that Bitcoin remains the volatility anchor amidst the turmoil affecting other altcoins like XRP, DOGE, and SOL.
Source: https://u.today/abnormal-638-liquidation-imbalance-stuns-bitcoin-bulls
