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BitMEX Exchange Sees $7.8M BTC Liquidation as Bitcoin Pulls Back 6% from ATH
BitMEX Exchange Sees $7.8M BTC Liquidation as Bitcoin Pulls Back 6% from ATH
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BitMEX exchange News -
Bitcoin's price experienced a sharp decline after briefly reaching a record high of $124,300, now trading at $115,300—marking a 6% weekly drop. This retracement triggered $550 million in liquidations affecting 131,000 traders, including a notable $7.8 million BTC position on BitMEX. With open short interest surpassing $6 billion, the market braces for potential volatility as BTC nears its previous peak.
Short-term holders continue to hold a steady 47% share of realized capitalization, with no major net value migration between new and old wallets over the past month. Investors are now focusing on macroeconomic factors, including Federal Reserve policy signals and geopolitical developments, for near-term directional cues.
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