This Easter weekend saw severe liquidations in the crypto markets, particularly for Bitcoin (BTC). Over a four-hour period on Sunday, Bitcoin experienced a rapid price drop as leveraged long positions were flushed out, revealing the vulnerabilities present in the market.

Liquidation Details

• Price Movement: Bitcoin fell from around $85,400 to a low near $83,800, before partially recovering to $84,453.

• Liquidation Imbalance: A staggering 13,520% long-to-short liquidation imbalance was observed, primarily affecting long positions.

Market Impact

• Total Liquidations: Total observed liquidations across the crypto market amounted to $165.1 million, affecting over 119,000 traders.

• Over-Leveraging Risks: This event underscores the risks of high leverage in crypto trading, as minor price movements can lead to significant losses.

This weekend’s liquidations serve as a crucial reminder for traders in the volatile crypto landscape to manage risk effectively.