Bitcoin's Price Plunge Triggers $31 Million Long Liquidation Event

Bitcoin's price took a sharp turn downward on September 23rd, resulting in significant long position liquidations. During the hour ending at 10:29 a.m. ET (14:29 UTC), Bitcoin saw $31.07 million in long positions liquidated as its price fell by 1.16%. This decline led to a total of $32.25 million in Bitcoin liquidations within that same period.

According to data from Binance, Bybit and OKX, the three exchanges whose data is included in TokenPost's tally, short liquidations accounted for only $1.18 million. The price of Bitcoin dropped from $85,499 to $84,503 during this hour-long timeframe.