Bitcoin Faces Major Adjustment After Historic $19 Billion Liquidation - Glassnode Market Analysis

Massive $19 billion liquidation shakes crypto markets as Bitcoin enters correction phase

Market Analysis Breakdown

Glassnode's latest data reveals one of the largest single-day liquidation events in crypto history. The $19 billion washout triggered cascading margin calls across major exchanges, forcing leveraged positions to unwind at an unprecedented scale.

Bitcoin's price action shows classic capitulation patterns as long-term holders face their first real test since the last cycle peak. Trading volumes spiked 300% above monthly averages during the liquidation cascade.

Technical indicators flash oversold signals across multiple timeframes, suggesting potential relief bounce scenarios. Though traditional finance analysts are already declaring this another 'crypto bubble pop' - because apparently a 20% correction after 400% gains means the entire asset class is doomed.

The market's proving once again that leverage works both ways - spectacularly.