Unchanging Price, Vanishing Positions! Bitcoin Experiences Early Morning Surge and Plummet, Leading to Over 700 Million Loss in Liquidation Across the Network

Unchanging Price, Vanishing Positions! Bitcoin Experiences Early Morning Surge and Plummet, Leading to Over 700 Million Loss in Liquidation Across the Network

Unchanging Price, Vanishing Positions! Bitcoin Experiences Early Morning Surge and Plummet, Leading to Over 700 Million Loss in Liquidation Across the Network

Bitcoin briefly surpassed $64,000 in the early hours of today but quickly dropped back to the $59,000 range. It has since rebounded to $61,250. Many altcoins also experienced significant volatility during this wave of upward surge and subsequent correction.
According to data from Coinglass, the total amount of liquidations in both long and short positions across the entire network exceeded $700 million in the past 24 hours. The largest single liquidation occurred in the BTC perpetual contract on OKX, amounting to a staggering $9.45 million.