Bitcoin sees most long liquidations of 2023 as BTC price tags $22.5K
BTC price downside volatility sees $46 million of long Bitcoin positions evaporate in a single day prior to the monthly close. Bitcoin (BTC) swapped bullish gains for chop into Jan. 31 as the end of the month saw nervous price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $46 million of longs liquidated Data from Cointelegraph Markets Pro and TradingView tracked a less confident BTC/USD as it briefly wicked to just above $22,500 on Bitstamp overnight. A rebound saw the pair flip $23,000 to short-term resistance, and was still trading below that level at the time of writing. The stakes remained high for traders both long and short with the monthly close just hours away. This was to be followed by interest rate decisions from the United States Federal Reserve on Feb. 1, along with the European Central Bank (ECB) a day later. With volatility likely lying in wait, liquidations mounted despite Bitcoin maintaining a fairly narrow trading range. The trip to $22,500 spar...