"Bitcoin, large-scale liquidations occur when price changes"

Futures Market Betting Amount, Long and Short Positions Record 15.1 and 9.5 Billion Respectively

Data has been revealed that a large amount will be liquidated in the BTC futures market during price changes.

Cryptocurrency trader Kass Abbot pointed out on X that approximately $15.11 billion (about 20.5874 trillion won) was bet on long positions and $9.58 billion (about 13.0528 trillion won) on short positions in the Bitcoin futures market.

Bitcoin reached new highs in the fourth week of May, then declined, hovering around $105,000 for over ten days. After a long period of stagnation, futures market traders have again begun betting on Bitcoin's price changes, and the longer the stagnation continues, the more "kindling" that can trigger liquidation is accumulating.

Abbot predicted Bitcoin's rise. He stated, "I expect significant changes in Bitcoin next week, and Bitcoin has the potential to rise above $109,000 to $110,000."

In fact, before Bitcoin reached new highs in the fourth week of May, the open interest in the Bitcoin futures market reached $81 billion (about 111.3912 trillion won), hitting an all-time high.

Reporter Seung-won Kwon ksw@blockstreet.co.kr