Crypto market has recently undergone a staggering liquidation in Bitcoin ($BTC). As per the data from the CryptoQuant analyst going by “Darkfost,” Bitcoin’s ($BTC) biggest long liquidation has occurred on April 6, accounting for 7,500 $BTC in a single day. The respective liquidation highlights the heightened volatility spread across the crypto market.
Bitcoin Sees 7,500 $BTC Liquidated in Biggest Liquidation of Bull Cycle
The wider macroeconomic uncertainty has resulted in Bitcoin’s biggest long liquidations. In this respect, a cumulative 7,500 $BTC have been liquidated in long positions within one day. This surge in liquidations coincides with a sheer decline in the top crypto asset’s price. At the moment, Bitcoin is changing hands at $77,319.90, indicating a 9.36% price decrease over the past 24 hours.
The liquidation cascade reportedly took place amidst the expanding market downturn. This was reportedly triggered by the U.S. President Donald Trump’s latest economic policies. They take into account the aggressive tariffs, specifically for Chinese imports. Such geopolitical developments are raising caution within the crypto market. Hence, the crypto market is showing abrupt and substantial volatility, influencing the overleveraged traders.
The biggest long liquidation in the Bitcoin market throughout the present bull cycle is another caution-triggering event. This signifies the need for preserve the capital and stay alert to prevent significant damages. The huge liquidations like this one often expedite the price downside, potentially leading to a downward spiral.
Investors Need to Prioritize Risk Management and Amid Uncertain Macroeconomic Conditions
According to the CryptoQuant analyst, despite the aforementioned long $BTC liquidation, Bitcoin’s fundamentals are robust. Particularly, the increasing scarcity with halving and the spiking institutional interest could raise volatility in the next months. Keeping this in view, the Bitcoin investors require focusing on risk management in line with the macroeconomic developments for survival.
