Bitcoin falls below $92K, experiencing a major liquidation in the futures market. In the past 4 hours, a total of $243M in positions were liquidated, of which $229M came from long positions and only $15M from shorts.

This wave of liquidations reflects the fragility of bullish traders in the market. When BTC breaks through a key support level, stop-loss orders are triggered en masse, causing a chain reaction that intensifies liquidations. Long positions account for 94% of the total liquidation, indicating that current market risk appetite remains fragile, and investors chasing gains are under the most pressure during this decline.

From a trading perspective, short liquidations are far lower than long liquidations, suggesting that short sellers are managing risk more cautiously. This asymmetric liquidation structure often signals that the market may further test support levels—or, during rebounds, longs may re-enter. In any case, such data volatility serves as a reminder for traders to stay vigilant, as markets tend to be most volatile at key price points.