According to Odaily, a recent analysis by SignalQuant, a CryptoQuant analyst, reveals that the recent Bitcoin (BTC) price plunge has dealt a severe blow to long position holders. This liquidation of long positions is the largest seen in the past year, and the squeeze on long positions is also quite significant.
However, the analyst warns against hastily concluding that the market will rebound after a large-scale liquidation of long positions. This is because, during the period from August to October 2023, the price experienced several months of adjustment before rebounding. Therefore, the analyst advises investors to adopt a 'temporarily less greedy, more conservative' attitude towards investment.
