Long Liquidations Soar as Bitcoin Price Drops $4K in a Week

Crypto long liquidations reached $101.39 million in just four hours on Aug. 23, with Bitcoin contributing $38.66 million to that total.

This figure is a significant portion of the $118.13 million total liquidated over that same period, and it shows that leveraged long traders were heavily affected by the price drop.

The 24-hour view paints an even more dramatic picture, with $250.57 million in crypto long positions being liquidated, accounting for nearly three-quarters of the $339.73 million total liquidations over that time frame.

In contrast to previous days when short sellers were squeezed out, this weekend's price drop affected leveraged long traders instead.