Bitcoin Long Positions Hit Hard by One-Hour Price Drop

Bitcoin's price volatility has led to significant liquidation for long positions on Sunday evening. According to data from Binance, Bybit, and OKX, $9.97 million in long positions were forced closed in just one hour. This represents nearly all of the total liquidations during this period, which reached $10.06 million.

The price drop that triggered these liquidations was modest, with Bitcoin's value falling 0.64% to $83,554 by 10:02 p.m. ET Sunday (02:02 UTC Monday). This decline followed an opening price of $84,090 during the measured hour.

Long positions accounted for nearly all of the forced closures, while short positions made up a relatively small portion at just $90,000. The data aggregation is specific to these three exchanges and does not represent the entire market.