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Bitcoin rebounded above $83,000 on Tuesday, following over $800 million in cryptocurrency liquidations, with long liquidations accounting for 84.5%.
Bitcoin rebounded above $83,000 on Tuesday after cryptocurrency liquidations exceeded $812.9 million, affecting 170,209 traders. Long liquidations accounted for $686.72 million, or 84.5% of the total. Bitcoin's own liquidations amounted to $192.14 million, with nearly 74% being long positions. CryptoQuant analyst JA Maartunn reported that Bitcoin's net taker buy-sell ratio has turned negative again, indicating stronger selling than buying in the derivatives market. Passive buying and short covering may be supporting the price, but there is a lack of sustained aggressive demand growth.
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