#BTCvsMarkets

Bitcoin above $94K — traders lose $650 million in a day

The sharp rise of BTC to $94,000 on the morning of April 23 caused a powerful short squeeze and led to record liquidations: about $650 million was lost in a day, of which $565 million were bets on a decline.

Bitcoin alone accounted for $300 million in losses.

Analyst Rick Maeda from Presto Research notes: this is the largest one-day loss since 2022.

The reason — an illiquid market + rapid panic among shorts.

The result — the sharp rise intensified on its own.