Bitcoin Retreats to $120K, Triggering $120M in Liquidations

Bitcoin experienced a temporary drop to the $120,000 mark, resulting in liquidations exceeding $120 million among key cryptocurrencies within just an hour.

Approximately $100 million of these liquidations were from long positions, while short positions accounted for about $20 million. Bitcoin was at the forefront with liquidations totaling $67 million. Ethereum and Solana also saw significant impacts, with figures reaching $19 million and $14 million respectively.

Experts interpret this recent downturn as a vital adjustment to alleviate speculative pressures and recalibrate leverage dynamics following Bitcoin’s swift ascent.

• Bitcoin experienced a temporary drop to the $120,000 mark, resulting in liquidations exceeding $120 million among key cryptocurrencies within just an hour.

• Approximately $100 million of these liquidations were from long positions,&nbspwhile short positions accounted for about $20&nbspmillion.&nbspBitcoin was at the forefront with liquidations totaling $67&nbspmillion;&nbspEthereum and Solana also saw significant impacts&semi&nbspwith figures reaching $1&#57&nbspand $$14 respectively.

• <p&gtExperts interpret this recent downturn as a vital adjustment to alleviate speculative pressures and recalibrate leverage dynamics following Bitcoin's swift ascent</p&gt