The account said Bitcoin was below the level when it posted Oct. 24. It also said 64% of net-long notional was entered above spot.
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Coinbase Markets reported that 64% of the net long Bitcoin (BTC) nominal value was opened on the spot market, with the largest long cluster at $81,993, and that liquidations were increasing.
🚨 Bitcoin is trading below the dense long position zone at $81,993.
📉 According to Coinbase data, 64% of the net long nominal size in $BTC was opened above the spot price.
📊 In the last 24 hours, $95.06 million worth of Bitcoin liquidations occurred, with $85.90 million of that coming from long positions. Read More: Coinbase data shows that downward pressure on BTC is strengthening
The article "Coinbase data shows that downward pressure on BT…