Bitcoin (BTC) Liquidations Hit $9.62M as Price Drops 3.5% in Four Hours

It's not the kind of Easter surprise traders were hoping for, as over the past four hours, Bitcoin (BTC) has seen a massive 13520% long-to-short liquidation

Bitcoin (BTC) price dropped by 13,520% in four hours, as the crypto market saw a massive liquidation imbalance, according to CoinGlass.

In the four hours to 4:00 (GMT+8) on April 9, crypto traders saw $9.62 million in longs liquidated on major exchanges compared to just $71,000 in shorts. The move came amid a sharp drop in the price of BTC to lows near $83,800 from highs above $85,000.

The sell-off triggered a total liquidation of $35.35 million across the market in the same four-hour window, with 83.6% of the damage coming from longs.

BTC alone accounted for the largest chunk at $9.7 million, followed by ETH at $8.2 million and SOL with $2.45 million in liquidated leverage.

The magnitude of the imbalance speaks for itself. While long liquidations are common in rapid pullbacks, this kind of one-way flush — over 130 times more long positions were liquidated than shorts — shows just how exposed the market had become heading into the weekend. The volatility was enough to drive a total of $165.1 million in liquidations over the last 24 hours, affecting over 119,000 traders.

The biggest single liquidation order? A $5.95 million BTC/USDC position on Binance, according to CoinGlass.

If you look at Bitcoin’s price chart, you will see that the move was steep but quick. After spending some time at around $85,400, Bitcoin took a dip and hit a low of about $83,800. The quick reversal indicates short-term oversold conditions.

Traders came into Easter Sunday thinking the market was going to go up. What they got was a brutal reminder: When everyone is going the same way, even a small push in the other direction can lead to a total wipeout.

This content was originally published on U.Today

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