🚀 Bitcoin Takes a Rollercoaster Ride! 🎢

Hold onto your hats, crypto enthusiasts! On Aug. 1, Bitcoin (BTC) decided to take a nosedive, dropping over $1,600 in just 60 minutes. From $64,000 to $62,800, it was a wild ride that left long traders clutching their hearts.

💥 Liquidation Frenzy:

- $310.27M in long positions liquidated.

- Total wipeout of $337M in 24 hours.

- Largest single liquidation: $4M ETH-USDT swap on OKX.

Market analysts are split:

- DW warns of low liquidity and magnified selling.

- Mags sees a silver lining, noting BTC's resilience above key support levels.

Historically, August isn't Bitcoin's best month, with an average return of -6%. But hey, dips are for buying, right? 💸

What do you think? Share your thoughts in the comments! 👇