Bitcoin (BTC) liquidation map over the past week shows a mixed picture of liquidation activity, with both longs and shorts affected. This suggests that the market is in a tug-of-war phase, with a split between the Bullish and Bearish camps.
Liquidations Concentrated at Key Levels: The map shows that liquidation activity is most concentrated at key levels, such as the $64,000, $62,000, and $60,000 areas. This suggests that leveraged traders are focusing on these price levels, creating strong volatility as Bitcoin price approaches these levels.
During the bullish phase from September 17 to September 19, more Long orders were liquidated than Short orders. This shows that the Bulls were over-leveraged and were "caught" when Bitcoin's price suddenly corrected downward.
Conversely, during the downtrend from September 19 to September 22, more Short orders were liquidated than Long orders. This suggests that the Bears were also over-leveraged and were caught out when Bitcoin suddenly recovered.
Liquidation volume is not too large: Although there is volatility in Bitcoin price, the liquidation volume in the past week is not too large, showing that the market is still relatively stable.
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