Massive $34.08M Bitcoin Long Liquidations Triggered by Ancient Whale Sell-Off on July 15

On July 15, data from Coinglass revealed a significant market event where approximately $89.61 million in liquidations occurred within a single hour. This sharp downturn was primarily driven by the selling activities of large, long-term holders, often referred to as ancient whales. Notably, Bitcoin long positions accounted for a substantial portion of the liquidations, with over $34.08 million being forcibly closed. This episode underscores the volatility inherent in the cryptocurrency markets and highlights the impact that major stakeholders can have on price dynamics and market liquidity.