{"id":391997,"date":"2022-01-10T14:44:15","date_gmt":"2022-01-10T11:44:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-batters-longs-as-liquidations-copy-may-2021-run-to-30000\/"},"modified":"2022-01-10T14:44:15","modified_gmt":"2022-01-10T11:44:15","slug":"bitcoin-batters-longs-as-liquidations-copy-may-2021-run-to-30000","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-batters-longs-as-liquidations-copy-may-2021-run-to-30000\/","title":{"rendered":"# Bitcoin batters longs as liquidations copy May 2021 run to $30,000"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a43e1344aa63\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a43e1344aa63\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-batters-longs-as-liquidations-copy-may-2021-run-to-30000\/#Long_traders_fail_to_%E2%80%9Ccatch_the_knife%E2%80%9D\" >Long traders fail to \u201ccatch the knife\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-batters-longs-as-liquidations-copy-may-2021-run-to-30000\/#Unusual_lows\" >Unusual lows<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin batters longs as liquidations copy May 2021 run to $30,000 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) has dealt significant pain to bulls in recent weeks, and now, fresh data shows just how much.<\/p>\n<p>In a tweet on Jan. 10, on-chain analytics firm Glassnode <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1480463390724083712\">revealed<\/a> that those longing BTC had suffered a rerun of last May, when BTC\/USD began to fall toward $30,000.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Long_traders_fail_to_%E2%80%9Ccatch_the_knife%E2%80%9D\"><\/span>Long traders fail to \u201ccatch the knife\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to Glassnode\u2019s Longs Liquidations Dominance metric, the \u201cmajority\u201d of liquidations over the new year involved longs.<\/p>\n<p>This is unsurprising, given Bitcoin\u2019s overall trajectory since late November, but the extent of losses puts the past few weeks on par with May in terms of longs vs. shorts.<\/p>\n<p>\u201cBitcoin long liquidation dominance has hit 69%, the highest level since the May 2021 deleveraging event,\u201d researchers commented. <\/p>\n<blockquote><p>\u201cThis means that the majority of liquidations in futures markets over recent weeks were long traders attempting to catch the knife.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/5412af97-92a4-4a27-bb48-792c2d685925.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin futures long liquidations dominance annotated chart. Source: Glassnode\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Looking at the data, the period from late July through late November saw the opposite trend form, with shorters becoming victims of an unexpected bull run multiple times.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Unusual_lows\"><\/span>Unusual lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While long liquidation spikes do not always mark local price bottoms, the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etite for a turnaround on short timeframes has long been vocal. <\/p>\n<p><strong><em>Related:\u00a0\u2018Most bullish macro backdrop in 75 years\u2019 \u2014 5 things to watch in Bitcoin this week<\/em><\/strong><\/p>\n<p>Bitcoin, as Cointelegraph reported, is firmly \u201coversold\u201d by historical standards at current prices.<\/p>\n<p>\u201cIf we bounce here, I\u2019m not convinced we won\u2019t revisit these prices, but some short-term relief would be nice,\u201d quant analyst Benjamin Cowen <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/intocryptoverse\/status\/1479605605660774402\">tweeted<\/a> Saturday as part of intraday observations.<\/p>\n<blockquote><p>\u201cDaily RSI is also technically oversold, $40k-$42k is theoretically a support area too.\u201d<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/intocryptoverse\/status\/1479605605660774402\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>Cowen was commenting on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Crypto Fear &amp; Greed Index<\/a>, which hit rare lows of just 10\/100 over the weekend, signifying \u201cextreme fear\u201d among market participants.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Since bottoming out in the depths of 2018 depression, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> has only seen this oversold indicators only four times at 3k, 10k, 4k, and 30k. Not long after these records were achieved, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> rallied 340%, 17%, 1585%, 141% accordingly. Full details: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qtlKY9tQzS\">https:\/\/t.co\/qtlKY9tQzS<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/oSpb3fTjKX\">pic.twitter.com\/oSpb3fTjKX<\/a><\/p>\n<p>\u2014 CRYPTO\u20bfIRB (@crypto_birb) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/crypto_birb\/status\/1479896210827845647?ref_src=twsrc%5Etfw\">January 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Such occurrences tend to be followed by a price and sentiment recovery, but current lows are poignant, as the same price level one year ago was accompanied by the opposite phenomenon \u2014 93\/100 or \u201cextreme greed.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-batters-longs-as-liquidations-copy-may-2021-run-to-30k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin batters longs as liquidations copy May 2021 run to $30,000 &#8221; Bitcoin (BTC) has dealt significant pain to bulls in recent weeks, and now, fresh data shows just how much. In a tweet on Jan. 10, on-chain analytics firm Glassnode revealed that those longing BTC had suffered a rerun of last May, when&#8230;<\/p>\n","protected":false},"author":1,"featured_media":391998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvZDI2Nzg3YmYtMWRjNS00MTVmLWFmODUtY2FjMGU0MTcxNWFjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-391997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/391997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=391997"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/391997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/391998"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=391997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=391997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=391997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}