Bitcoin investors recorded heavy losses this week following the largest long position liquidation in the current bull market. On April 6, more than 7,500 BTC with a value exceeding $500 million were erased across prominent trading exchanges as prices dropped from $83,000 to $74,000. Related Reading: XRP ETF Launch Impresses Even In Bear Market, Says Analyst Record-Breaking Liquidation Event Hits Crypto Market As CryptoQuant analyst Darkfost noted, this liquidation was the highest of all since the 2023 bull rally began. The forced selling was prompted by Bitcoin’s price dropping sharply on spot markets before stabilizing around the $78,000 level after the initial collapse. Recovery since then has been negligible with prices remaining around that level. The statistics indicate that although similar liquidations have occurred previously over the last two years, none were of Monday’s magnitude. This rapid market shift took most traders by surprise, particularly those who had opted to leverage their potential gains. The biggest Bitcoin long liquidation event of this bull cycle “On April 6, approximately 7,500 Bitcoin in long positions were liquidated, marking the biggest single-day long wipeout of the en ..
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