{"id":561449,"date":"2023-03-09T13:55:48","date_gmt":"2023-03-09T10:55:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-keeps-liquidating-longs-as-btc-price-action-gives-up-22k-support\/"},"modified":"2023-03-09T13:55:48","modified_gmt":"2023-03-09T10:55:48","slug":"bitcoin-keeps-liquidating-longs-as-btc-price-action-gives-up-22k-support","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-keeps-liquidating-longs-as-btc-price-action-gives-up-22k-support\/","title":{"rendered":"# Bitcoin keeps liquidating longs as BTC price action gives up $22K support"},"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-6a36b539a3757\" 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-6a36b539a3757\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-keeps-liquidating-longs-as-btc-price-action-gives-up-22k-support\/#%E2%80%9D_Bitcoin_keeps_liquidating_longs_as_BTC_price_action_gives_up_22K_support_%E2%80%9C\" >&#8221; Bitcoin keeps liquidating longs as BTC price action gives up $22K support &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-keeps-liquidating-longs-as-btc-price-action-gives-up-22k-support\/#Longs_begin_to_disappear_with_BTC_at_three-week_lows\" >Longs begin to disappear with BTC at three-week lows<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-keeps-liquidating-longs-as-btc-price-action-gives-up-22k-support\/#Research_warns_of_%E2%80%9Cliquidity_crisis%E2%80%9D\" >Research warns of &#8220;liquidity crisis&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_keeps_liquidating_longs_as_BTC_price_action_gives_up_22K_support_%E2%80%9C\"><\/span>&#8221; Bitcoin keeps liquidating longs as BTC price action gives up $22K support &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Bitcoin (BTC) traders remain sensitive even to small price movements as data shows liquidations climbing.<\/p>\n<p>As BTC\/USD <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>roaches $21,600 on March 9, those who are long BTC are seeing positions evaporate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Longs_begin_to_disappear_with_BTC_at_three-week_lows\"><\/span>Longs begin to disappear with BTC at three-week lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite consensus forming around Bitcoin retesting $20,000, small shifts in price are still taking their toll on traders.<\/p>\n<p>According to data from monitoring resource <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, March 8 alone saw $24.4 million of BTC longs liquidated, the highest tally in almost a week.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/f70817ba-c517-42dc-8477-0fb1770dd662.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin liquidations chart. Source: Coinglass<\/em><\/figcaption><\/figure>\n<p>This coincided with BTC\/USD heading to three-week lows, abandoning $22,000 as support. At the time of writing, the downtrend continues, while liquidations for the day nonetheless remain negligible. <\/p>\n<p>Including altcoins, March 8 liquidated $95 million of longs and another $15.4 million of shorts. Further data from on-chain analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&amp;category=&amp;m=derivatives.FuturesLiquidatedVolumeLongRelative&amp;s=1659838041&amp;u=1678320000&amp;zoom=\">Glassnode<\/a> captured the dominance of long versus short liquidations.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/c6c594df-071d-49aa-a977-4b0c552e15b7.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin futures long liquidations dominance chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>Commenting on the action, Filbfilb, co-founder of trading suite Decentrader, argued that it was little surprise that overexposed long positions were feeling the heat.<\/p>\n<p>&#8220;Makes sense to wipe out the majority longing against the price direction,&#8221; part of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> commentary <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/filbfilb\/status\/1633751425426636801\">stated<\/a>.<\/p>\n<p>An accompanying chart showed mounting leveraged position liquidations.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/f5c2c30a-d99f-4fec-943f-e71b04512500.png\"><figcaption style=\"text-align: center;\"><em>BTC liquidations chart. Source: Filbfilb\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Research_warns_of_%E2%80%9Cliquidity_crisis%E2%80%9D\"><\/span>Research warns of &#8220;liquidity crisis&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph reported, Bitcoin price action remains comparatively flat despite the liquidation behavior.\u00a0<\/p>\n<p><strong><em>Related:\u00a0BTC may need to dip to $19.3K to cool Bitcoin profit-taking \u2014 new data<\/em><\/strong><\/p>\n<p>February became the least volatile month on record in terms of open and close prices on monthly timeframes.<\/p>\n<p>For financial commentary resource The Kobeissi Letter, however, this served as a warning in itself \u2014 and not just for Bitcoin.<\/p>\n<p>Analyzing price behavior after a substantial liquidation event on March 3, Kobeissi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KobeissiLetter\/status\/1632180520455995395\">forecast<\/a> a &#8220;liquidity crisis&#8221; stretching out across macro assets.<\/p>\n<p>&#8220;Net liquidations in crypto markets exceeded $200 million in 1 hour. Since then, Bitcoin has traded completely flat and liquidity is gone. Imagine what will happen to broader markets once liquidity dries up,&#8221; it wrote.<\/p>\n<p>Such a crisis it meanwhile described as &#8220;the biggest risk to markets right now.&#8221;<\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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-keeps-liquidating-longs-as-btc-price-action-gives-up-22k-support\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin keeps liquidating longs as BTC price action gives up $22K support &#8220; Bitcoin (BTC) traders remain sensitive even to small price movements as data shows liquidations climbing. As BTC\/USD approaches $21,600 on March 9, those who are long BTC are seeing positions evaporate. Longs begin to disappear with BTC at three-week lows Despite&#8230;<\/p>\n","protected":false},"author":1,"featured_media":561450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/7effe68f-db52-48e3-9452-73ba7fefd13a.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-561449","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\/561449","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=561449"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/561450"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=561449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=561449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=561449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}