The most popular digital currency in the world, Bitcoin (BTC), has seen significant price volatility in recent days. The coin has had difficulty maintaining its value above the psychological $100,000 mark. In the past 24 hours, this has led to a total of $527 million in cryptocurrency liquidations.

Long positions suffer the most. The entire amount of Bitcoin liquidated was $161.96 million, according to CoinGlass data. Interestingly, during the same period, traders with long positions recorded greater liquidations ($92.12 million) than traders with short positions ($68.84 million). According to this data, traders who placed long bets on Bitcoin had greater liquidations since the cryptocurrency was unable to stay stable over $100,000.

Other altcoins have been impacted by the price and liquidity of Bitcoin. Other significant assets that helped reach the $527 million total liquidation include Solana (SOL), Dogecoin (DOGE), XRP, and Ethereum (ETH). With long position traders losing $57.47 million and short traders losing $51.76 million, Ethereum's total liquidation was $109.23.

The $29.22 million in XRP's liquidation was made up of $12.52 million in short positions and $16.70 million in long position traders. With $15.34 million vs $11.36 million, DOGE maintained the trend of long position traders seeing more liquidations than short position traders, totaling $26.70 million. With the liquidation of $13.01 million from short-position traders and $10.85 million from long-position traders, Solana reported a liquidation imbalance. This results in a $23.87 million liquidation total.

Bitcoin anticipates a comeback, but there will be additional turbulence.

As of this writing, the price of Bitcoin is rising on the cryptocurrency market, trading at $98,835.08, after a 24-hour increase of 4.01%. However, tempered sentiment is evident as Bitcoin's trading volume has decreased by 21.4% to $79.92 billion. In a recent statement to the cryptocurrency community, Real Vision CEO Raoul Pal advised investors to prepare for additional price declines before the market reaches a new high. Although he warned investors not to panic, he suggested that Bitcoin might drop as much as $70,000.

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