Despite the low trading volume on the weekend, most of the market still lost almost $300 million in liquidations while trying to catch the local bottom, which rarely ends up well.As the market-tracking website shows, 82% of all liquidated volume falls on long orders.
While the liquidated volume includes long-term placed positions, short-term orders are most likely to represent most of the liquidated volume, as the"buy the dip" tendencies were actively pushed in the crypto space., traders are actively placing long orders for Bitcoin as the asset remains under heavy selling pressure over the last month.
Source: News Formal (newsformal.com)
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