Bitcoin bears piled into short positions as BTC price slid to $60,000
·2 min read
Compiled by KHAO Editorial
— aggregated from 5 sources.
See llms.txt for citation guidance.
✓ KHAO Verified
The Bitcoin (BTC) crash to $61,100 on Friday wiped out $335 million in leveraged long positions.
Key facts
Bearish positions built up heavily between $63,000 and $66,000, setting the stage for a potential $2.6 billion short squeeze
Estimated liquidations for a further 8% drop in Bitcoin to $57,000 from $62,000 stand at $1.2 billion
The minor $3 million net inflow on Thursday could represent a temporary breathing room after 15 days of selling that drained $5.1 billion
The Bitcoin (BTC) crash to $61,100 on Friday wiped out $335 million in leveraged long positions
Summary
Bitcoin bears piled into short positions as BTC price slid to $60,000. Over-leveraged Bitcoin short positions between $63,000 and $66,000 have created a potential $2.6 billion squeeze trap for bears. Negative perpetual funding rates indicate that bulls have fully deleveraged, significantly reducing downside risk. Estimated cumulative Bitcoin liquidation at major exchanges, USD.