The movement of Bitcoin ($BTC ) above $94,000 on the morning of April 23 caused a cascade of liquidations of trading positions, predominantly aimed at lowering the price (short) of BTC. The total volume of liquidated trading positions was about $650 million. Of this, around $565 million were bets on a price decrease, $300 million of which was on the drop in the price of Bitcoin. According to analyst Rick Maeda from Presto Research, cited by Decrypt, this volume was the largest since 2022.
