Bitcoin crash wiped out $140 million bull traders

With the price of bitcoin (BTC) falling to $26,000, bullish sell-offs in cryptocurrency futures have dominated over the past two days. In this way, the highest in just over two weeks were seen in this period, according to data from the Coinglass explorer.

In the last two days, cryptocurrency bullish sell-offs were over $140 million (USD). The bears, meanwhile, were significantly smaller, at around $38 million.

Among the bullish liquidations, those of the two main assets in the market stood out, accounting for just over 50% of the total. Specifically, those of bitcoin were around USD 45 million and those of ether (ETH) of USD 30 million.

It should be borne in mind that settlements are understood to be the losses of money that traders who bet on future prices had. And it is called bullish or long (long) to those who bet on a rise, while bearish or short (shorts) to those who expected a fall.

The actual dominance of bullish sell-offs over bearish sell-offs occurs amid bitcoin price contraction. As CriptoNoticias reported, given the low demand from investors, this cryptocurrency fell to its support zone (minimum) around USD 26,000, dragging the market down.