experienced a significant drop in the last trading session, which resulted in a surge in liquidations. Due to this decline, traders who purchased Bitcoin in the past 30 days are now facing losses.revealed a significant increase in liquidation volume on the 24th of June. The spike was primarily triggered by a sharp drop in Bitcoin’s price.
The volume of short liquidations was around $13.5 million, while long liquidations were lower, at around $5.2 million. Although the RSI has slightly recovered above this critical threshold, it suggested that while there has been a minor improvement, BTC still predominantly exhibited strong bearish momentum.This ratio, which compares the market value of an asset to its realized value, dipped below zero around the 10th of June.
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