Bitcoin experts claim that the correction in BTC price is merely a “wholesome consolidation.”

Traders found themselves in a disadvantageous position as market data revealed their lack of preparedness for the recent surge past the $69,000 mark. Coinglass data indicates that within the past 24 hours, leveraged positions worth more than $1.17 billion were liquidated in the cryptocurrency market, with a significant portion of $846 million stemming from long liquidations.
Specifically, in the case of BTC, long liquidations amounted to a staggering $236.33 million.