HuoXing Finance reports that, according to Coinglass data, after 8 PM tonight, Bitcoin rapidly declined, briefly falling below $64,000 and currently trading at $64,157.87. As a result, $117 million in total liquidations occurred across the network within the past hour, with $114 million from long positions. Meanwhile, HyperInsight monitoring shows that Ma Ji again urgently closed long positions during the market decline to avoid liquidation. As of publication, he still holds 3,100 ETH with a 25x long position, at a liquidation price of $1,841—maintaining a 1% spread from the current price.
Bitcoin Plummets, $117 Million Liquidated in One Hour as Margin Traders Close Long Positions
MarsBitShare
Summary
On July 24, the Bitcoin price dropped sharply, briefly falling below $64,000 before recovering to $64,157.87. Coinglass data shows $117 million in liquidations over the past hour, with $114 million from long positions. HyperInsight reported that margin trader 'Maji' again swiftly closed longs to avoid liquidation. As of the report, Maji still holds a 25x long position on ETH totaling 3,100 ETH, with a liquidation price of $1,841—just 1% below the current price. Bitcoin price prediction models will need to be reassessed following this sudden movement.
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