Bitcoin Dips Below $116,000, Triggers Long Liquidations
- Bitcoin falls below crucial price, affecting liquidations and market sentiment.
- CEX long liquidations near $979 million.
- Attention shifts to potential rebound trends.
Bitcoin’s drop below $116,000 led to significant long liquidations on major centralized exchanges, affecting traders and prompting notable shifts in cryptocurrency markets.
This event underscores market volatility, deeply influencing Bitcoin and Ethereum, with significant liquidations and risk-off moves impacting trading behaviors and investor sentiment.
Bitcoin’s price falling below $116,000 led to significant CEX long liquidation volumes between $700 million and $979 million. This event was recorded by on-chain data and tracked through exchange dashboards.
Key players involved included Binance, OKX, and Bybit, although no official statements were made by their leadership. The lack of direct communication highlights the data-driven nature of this market movement.
The drop sparked notable liquidations, impacting BTC, ETH, and other significant cryptocurrencies. The single largest liquidation occurred on the Ethereum/USDC pair on Binance.
Market reactions reflected a risk-off sentiment, further compounded by U.S. Federal Reserve’s decision to hold interest rates steady, impacting crypto asset attraction.
Notably, investor behavior during this period indicated opportunistic buying, as seen in the accumulation of approximately 120,000 BTC below $114,000.
These trends spotlight potential strategic buying zones and may provide clues for future market movements. Historical patterns suggest this aligns with prior catastrophe liquidations and macroeconomic adjustments.
Glassnode Report, Official Analytics Provider: “Following a rebound from around $112,000, investors acquired roughly 120,000 BTC … evidencing opportunistic demand. Even so, the $110,000–$116,000 band remains light in aggregate supply.” [source]
