Bitcoin is being 'dumped' en masse, over 500 million USD liquidated in the blink of an eye!

On Friday morning, the Bitcoin market was shaken as #GalaxyDigital along with many other 'whales' transferred large amounts of BTC to exchanges, creating extreme selling pressure. A total of 3.7 billion USD worth of BTC was put on exchanges, including 26,100 BTC sold at a loss by short-term investors, according to analysis by Maartunn from #CryptoQuant .

The price of Bitcoin immediately reacted, dropping 1.8% to 116,365 USD, with 24-hour trading volume soaring 37% to 131.6 billion USD. The sell-off also led to the liquidation of over 531 million USD in derivative positions, mostly Long orders (betting on price increases).

Despite the short-term shock causing many positions to be 'blown away', experts view this as a positive signal. Valentin Fournier (BRN) believes that the liquidation of high-leverage positions is helping to make the market healthier. Currently, the total open Short positions exceed 2.8 billion USD, opening the possibility of a "short squeeze" if the price $BTC rebounds.

However, market sentiment remains stable. The Fear & Greed index only slightly decreased from 71 to 70, indicating that investors are not overly panicked. Meanwhile, Bitcoin ETF funds recorded an inflow of 226 million USD on Thursday – a sign that institutions are still quietly accumulating.

Although Bitcoin remains volatile, this adjustment may be a necessary 'shake-off' before the market regains its upward momentum.