The price of Bitcoin entered the roller coaster game, as it fell to the level of $21,000, then rebounded above $23,000 and returned again to the $22,000 level at the time of writing this article.

This volatility and volatility in the price of Bitcoin has caused long and short positions to suffer wholesale liquidations, with more than $800 million liquidated.

Bitcoin volatility:

For one person to win, another person must lose.

This has been perfectly embodied in the market’s performance over the past few hours.

Bitcoin price surged from a high above $24,300 to below $21,850 in a matter of hours.

Read:Bitcoin mining revenue in Russia grows 18 times in 4 years

After many analysts and observers predicted that the Bitcoin was finally facing the long-awaited correction and expected that the price of the Bitcoin would reach 20 thousand dollars, but it soon rose again above 23 thousand dollars.

It should be noted here that the recent price increase came shortly after MicroStrategy announced its $650 million purchase of Bitcoin.

MicroStrategy now owns 0.335% of all Bitcoin.

Liquidation of $800 million in 24 hours:

Unfortunately for many traders, the volatility referenced at the beginning of the article has led to filtering $811 million for long and short position holders.

It seems that the bearish traders got it this time, as more than 80% of the closes made across the major trading platforms were long.

Binance, as usual, leads the market, with Binance liquidations accounting for 44.76% of all liquidations, Huobi, OKEx and Bybit next.

At the time of this writing, approximately 96,000 traders have been liquidated in the last 48 hours.

Read:Developer of crypto-mixing platform “Tornado Cash” arrested in Amsterdam

The interesting thing about the recent liquidations is that the dip buying process has been fairly rapid.

Read also:

Why do most people rush to buy Bitcoin at a higher price and not when it is low?

MicroStrategy announces another $650 million purchase of Bitcoin