Bitcoin Rebounds from $813 Million Liquidation Wave

About $813 million in leveraged positions were liquidated, and Bitcoin recovered after dropping below $81,000.

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After a temporary drop below $81,000, Bitcoin crossed the $83,000 mark again; But the derivatives market data shows that the selling pressure has not completely subsided yet. According to CryptoSlate, about 813 million dollars of trading positions were liquidated in 24 hours.

According to CoinGlass data quoted by CryptoSlate, more than 170,000 traders were caught in this liquidation wave. About $687 million of the liquidated positions were bullish or long positions; It means about 84.5% of the total figure. The forced closing of these transactions when the price falls can intensify the selling pressure.

Bitcoin recorded the most liquidation among cryptocurrencies with around $192 million. Ethereum figure was about 180.5 million dollars and Solana was about 60.9 million dollars. The largest single liquidation reported was also a long Bitcoin position worth $9.65 million on Binance.

Simultaneously with the decline of South Korean stocks

On the same day, South Korea's KOSPI stock index experienced a sharp decline, and shares of the country's major chipmakers also fell. Foreign investors pulled about 4.5 trillion won, or $3.35 billion, out of South Korean stocks. This coincidence alone does not prove that the drop in stocks was the cause of Bitcoin's volatility, but it does show that risky markets were trading in a tense environment.

CryptoSlate also notes that Bitcoin's "Net Order Taker Volume" has gone negative; An indicator that can be a sign of overtaking aggressive sellers in the derivatives market. As a result, a rebound in prices does not necessarily mean a return of strong demand yet.

Analysts believe that the wave of liquidation, especially the dominance of long positions, shows that high leverage can turn a limited price drop into a massive forced sell. However, Bitcoin's return above $83,000 after the fall does not determine the short-term direction. Iranian traders should monitor liquidity levels, dollar rate and US inflation news at the same time and avoid heavy entry based on one return.