Bitcoin Long Liquidations Reach Record High in One Hour

Bitcoin's price experienced a brief downturn on September 28, resulting in $10.36 million in long position liquidations within a one-hour period.

The decline was limited to 0.45% from $83,107 to $83,480, and the majority of the liquidation activity took place among traders who were positioned for higher prices.

Short-position liquidations accounted for only $20,000 during this time, indicating that most of the trading pressure came from those betting on a price increase.

The figures are based on publicly disclosed data collected from Binance, Bybit, and OKX exchanges, but it's essential to note that these numbers may not represent the entire market.