Bitcoin (BTC USD) Capitulation Below $90K Triggers Another Liquidation Wave

Bitcoin (BTC USD) Capitulation Below $90K Triggers Another Liquidation Wave
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Bitcoin (BTC USD) slides to new 6-month low after losing its $90,000 support, with liquidations approaching quarter of a billion dollars.
Mega whale that held BTC since 2011 liquidates 11,000 BTC worth $1.3 billion, contributing to the sell pressure.
Whale addresses with over 100 BTC clock new ATH.

The price of Bitcoin has officially tanked below $90,000 after losing its footing due to weak demand and sustained sell pressure. This consequently resulted in another liquidation event with longs bearing the pain.
Quite a number of investors expected the price of Bitcoin to bounce back from the $90,000 price level. This was evident by the ratio of longs versus short liquidations.
The total Bitcoin (btc usd) value liquidated in the last 24 hours surged over $413 million in the last 24 hours. The bulk of those liquidations were longs, at $369 million, while shorts were a fraction of that figure at just over $43 million.
Bitcoin liquidation/ source: Coingl

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