Bitcoin (BTC) has dealt significant pain to bulls in recent weeks, and now, fresh data shows just how much.
In a tweet on Jan. 10, on-chain analytics firm Glassnode revealed that those longing BTC had suffered a rerun of last May, when BTC/USD began to fall toward $30,000.
Long traders fail to “catch the knife”
According to Glassnode’s Longs Liquidations Dominance metric, the “majority” of liquidations over the new year involved longs.
This is unsurprising, given Bitcoin’s overall…
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