3 Bitcoin price metrics show bulls were not fazed by today’s $1.6B liquidation

3 Bitcoin price metrics show bulls were not fazed by today’s $1.6B liquidation

Today’s $1.6 billion Bitcoin liquidation event might have flushed out some over-leveraged retail investors, but the overall market is still positioned in favor of bulls. Bitcoin's (BTC) sudden $11,500 drop liquidated more than $1.64 billion worth of BTC futures contracts. This massive figure represents 8.5% of the total $19.5 billion in open interest, which coincidentally had just reached its all-time high.Although these are significant figures, they are proportionally lower than the $1-billion futures liquidation on Nov. 26, 2020. At that time, the 16% correction that followed Bitcoin....

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