Summary: In just 24 hours, Bitcoin’s wild price swings wiped out a jaw-dropping $894M across the crypto market. Over 168,000 traders felt the burn, with the biggest single loss being a $18.94M BTC-USDT-SWAP on OKX.
Bitcoin’s Wild Rollercoaster
Bitcoin kicked off with an insane pump to $103,900, only to nosedive to $90,400 on Binance overnight. The chaos didn’t last long, though—bulls swooped in, and the price rebounded to $97,898. It was a trader’s nightmare or dream, depending on which side of the bet you were on.
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Longs Got Wrecked
The bulk of the losses came from long positions, totaling a brutal $733.49M. Shorts didn’t get off easy either, adding $160.36M to the carnage. Here’s how it broke down:
- Last Hour: $18.22M ($17.02M longs, $1.20M shorts)
- 4 Hours: $50.18M ($42.67M longs, $7.51M shorts)
- 12 Hours: $166.08M ($103.25M longs, $62.83M shorts)
- 24 Hours: $893.85M ($733.49M longs, $160.36M shorts)
Lessons in Volatility
This price chaos isn’t just volatility; it’s a full-blown reminder that crypto is not for the faint of heart. Some traders bagged big wins, but others took devastating Ls. It’s a wild west out here—trade carefully or get rekt.