Bitcoin (BTC) Long Liquidations Hit 2-Mth High As Price Plummets
Bitcoin’s (BTC) abrupt tumble from 2022 highs caused a string of large liquidations in the market. Big long positions- which expected the token to find a bottom- saw some of their biggest liquidations this year. BTC fell from near $48,000- its highest level this year- to $42,400 in little over a week. The token’s sharp decline is attributed to growing concerns over inflationary pressures this year, as well as aggressive measures from the Federal Reserve to curb prices. Weakness in the...