Key dealers
- Bitcoin’s short dip to $ 120K triggered over $ 120 million in liquidations, led by Bitcoin, Ethereum and Solana positions.
- Analysts describe Dragbacken as a healthy correction before the potential continuation of the trend.
Bitcoin withdrew to the $ 120,000 level today and triggered over $ 120 million in liquidations over large crypto assets over the past hour.
About $ 100 million came from long positions and $ 20 million from shorts, with Bitcoin that led the liquidations to $ 67 million. Ethereum and Solana followed $ 19 million and $ 14 million respectively.
Analysts see the latest reductions as a necessary correction to cool speculative surplus and restore leverage after Bitcoin’s rapid rise.
