Data: After a significant market adjustment, Bitcoin liquidation exceeded 500 million dollars

ChainCatcher news, according to Decrypt, the cryptocurrency market experienced a significant sell-off on Tuesday evening, with Bitcoin prices dropping over 5%, leading to a total liquidation amount of $526 million within 24 hours. Among these, long position liquidations amounted to $453 million, while short position liquidations were $73 million.

However, analysts indicate that despite the sharp price drop, these are temporary and not a sign of a long-term bear market. In the coming months, Bitcoin is expected to benefit from China's stimulus plan, U.S. employment data, the announcement of FTX payments to creditors, and the conclusion of the U.S. election season.